Dubai regulator announces increased protection for whistleblowers
The UAE is working to increase its financial transparency after being linked to sanctions evasion and the flow of dark money.
The Dubai Financial Services Authority announced today a new regulatory regime for whistleblowing.
The regime provides enhanced legal protection to people who report misconduct by any Dubai entity regulated by the authority. It applies to those who report the misconduct internally or to Dubai authorities, according to a press release.
The Dubai Financial Services Authority is an independent regulator of Dubai's International Finance Center. The center is home to more than 2,500 companies.
The regulatory regime applies to companies based in Dubai's International Finance Center that are regulated by the Dubai Financial Services Authority, an authority spokesman told Al-Monitor. The regime requires that said entities “put in place measures to protect the identity of the whistleblower and to protect them from suffering any detriment,” per the release.
