Now, those who blow the lid off misconduct and anomalies within DFSA-regulated entities will get an enhanced legal shield.
A regulatory regime to protect whistleblowers has been launched by the Dubai Financial Services Authority (DFSA).
It will apply to all entities regulated by DFSA, functioning in or from the Dubai International Financial Centre (DIFC).
The regime is the first-of-its kind initiative to be rolled out by a financial service regulator in the UAE.
The regulator said the regime provides better legal protection for persons who report misconduct internally within DFSA-regulated entities or externally to their auditor, the DFSA or a law enforcement agency.
It will help make these entities transparent and bring about accountability.
An exclusive DFSA whistleblowing email address has been made – whistle@dfsa.ae. Any regulatory issues can be reported directly to the email.
The Regulatory Law 2004 was amended to improve the legal protection provided to those who report irregularities.
Any information of misconduct escalated with DFSA remains confidential. The regulator responds to it within 28 working days.