Featured Product

    Dubai FSA Updates Rulebook Modules and Consults on Crypto Token Regime

    March 16, 2022

    The Dubai Financial Services Authority (Dubai FSA) has set out proposals for a regulatory regime for persons wishing to provide financial services in respect of Crypto Tokens. Dubai FSA also updated certain Rulebook modules for banks, which came into force on April 07, 2022 and follow the legislative amendment proposals set out in the consultation paper numbered 141.

    The updates cover General Module, Auditor Module, Authorized Market Institutions Module, and Anti-Money Laundering and Counter-Terrorist Financing and Sanctions Module applicable to financial firms, including banks, insurers, and asset managers:

    • General Module (GEN) Rule-Making Instrument (No. 318) 2021, which repeals and replaces the General Module (GEN) of the Dubai FSA Rulebook with an updated version
    • Auditor Module (AUD) Instrument (No. 319) 2021, which repeals and replaces the Auditor Module (AUD) of the Dubai FSA Rulebook with an updated version
    • Authorized Market Institutions Module (AMI) Instrument (No. 320) 2021, which repeals and replaces the Authorized Market Institutions (AMI) module of the Dubai FSA Rulebook with an updated version
    • Anti-Money Laundering, Counter-Terrorist Financing, and Sanctions Module (AML) Instrument (No. 321) 2021, which repeals and replaces the Anti-Money Laundering, Counter-Terrorist Financing and Sanctions Module (AML) of the Dubai FSA Rulebook with an updated version

    The consultation on regulatory regime for crypto tokens covers the definition of crypto tokens, excluded and prohibited tokens, accepted crypto tokens, operations of a trading venue, clearing and settlement, information technology security requirements, business and operating rules, disclosures, prudential requirements, and Islamic financial services. The comment period on this consultation ends on May 06, 2022. 

     

    Related Links

     

    Keywords: Middle East and Africa, UAE, Dubai, Banking, Regtech, Basel, Crypto Tokens, Rulebook, AML CFT, Crypto-assets, Dubai FSA

    Featured Experts
    Related Articles
    News

    EBA Sets Out Roadmap for 2023, Updates Reporting Framework 3.2

    The European Banking Authority (EBA) published its work program for 2023 as well as the technical package for phase 3 of version 3.2 of its reporting framework.

    September 30, 2022 WebPage Regulatory News
    News

    FED Announces Launch of Climate Scenario Analysis Exercise in 2023

    The Board of Governors of the Federal Reserve System (FED) announced a pilot climate scenario analysis exercise for six largest banks in the U.S.

    September 29, 2022 WebPage Regulatory News
    News

    BIS Paper Studies Impact of Fintech Lending on Small Businesses in US

    The Bank for International Settlements (BIS) published a paper that studies impact of fintech lending on credit access for small businesses in U.S.

    September 26, 2022 WebPage Regulatory News
    News

    UK Regulators Issue CRR Changes and Stress Test Scenarios for Banks

    The Prudential Regulation Authority (PRA) issued the policy statement PS8/22 to amend the Own Funds and Eligible Liabilities (CRR) Part of the PRA Rulebook and update the supervisory statement SS7/13 titled "Definition of capital (CRR firms).

    September 26, 2022 WebPage Regulatory News
    News

    EBA Launches EU-Wide Transparency Exercise in 2022

    The European Banking Authority (EBA) launched the EU-wide transparency exercise for 2022, with results of the exercise expected to be published at the beginning of December, along with the annual Risk Assessment Report.

    September 23, 2022 WebPage Regulatory News
    News

    SRB on CRR Quick-Fix to Policy for Multiple Point of Entry Banks

    The Single Resolution Board (SRB) welcomed the adoption of the review of the Capital Requirements Regulation, or CRR, also known as the "CRR quick-fix."

    September 22, 2022 WebPage Regulatory News
    News

    EC Rule Lists Advanced Economies for Market Risk Capital Calculations

    The European Commission (EC) recently adopted the Delegated Regulation 2022/1622, which sets out the regulatory technical standards to specify the countries that constitute advanced economies for the purpose of specifying risk-weights for the sensitivities to equity.

    September 21, 2022 WebPage Regulatory News
    News

    EBA Publishes Final Regulatory Standards on STS Securitizations

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.

    September 20, 2022 WebPage Regulatory News
    News

    ECB Further Reviews Costs and Benefits Associated with IReF

    The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.

    September 15, 2022 WebPage Regulatory News
    News

    EBA Publishes Funding Plans Report, Receives EMAS Certification

    The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).

    September 15, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8523