DFSA’s Proposed Enhancements to Authorised Individuals Regime in CP165

2nd May 2025

In March 2025, the Dubai Financial Services Authority (DFSA) issued Consultation Paper No. 165 (CP165), detailing proposed changes to its framework for Licensed Functions and Authorised Individuals within the Dubai International Financial Centre (DIFC).

These proposals aim to promote the development of the financial services sector in the DIFC, enhance operational flexibility for firms, and reduce barriers to entry, to support more accessible pathways for industry participation.

Our comments on CP165 highlight the importance of:

• Enhancing operational flexibility for firms and reducing barriers to entry.

• Ensuring that individuals in Designated Functions are demonstrably fit and proper, possess the necessary competence, and are subject to appropriate internal governance and oversight by their firms.

• Focusing on a system where designations accurately reflect a firm’s specific activities, operational needs, and established governance frameworks.

Read our comments to the DFSA here.