Dubai tightens supervision of adviser firms

In the heightened regulatory environment, the DFSA is introducing an annual controls questionnaire to be completed by all "Category 4" financial services firms that undertake services of advising or arranging. Approximately half of Dubai's 250 authorised firms are Category 4 firms. The questionnaire asks for a self-evaluation in aspects of management and control within a firm the DFSA views as critical. Furthermore, the questionnaire will assist a firm in identifying action it may need to take to meet regulatory requirements. It will also lead to efficiencies as the data provided wi...