Friday, 10 August 2012

DIFC: DFSA corporate governance principles and best practice standards

The recently enacted Markets Law 2012 requires reporting entities to have "a corporate governance framework which is adequate to promote the prudent and sound management of the Reporting Entity in the long-term interest of the Reporting Entity and its shareholders" (s. 39(1)). The DIFC financial services regulator, the Dubai Financial Services Authority, is required to prescribe corporate governance principles and standards for such entities (s. 39(2)). These principles and standards have been published in the DFSA Rulebook: see here and here.

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