The DFSA has established, and strives to maintain, an environment that fosters the DIFC guiding principles of integrity, transparency and efficiency. It has done so by embedding uncompromisingly high standards in a clear, succinct and flexible regulatory framework based on international best practices relevant to a modern international financial centre.
In discharging its regulatory mandate, the DFSA has a statutory obligation to pursue the following objectives:
• To foster and maintain fairness, transparency and efficiency in the ﬁnancial services industry (namely, the ﬁnancial services and related activities carried on) in the DIFC;
• To foster and maintain conﬁdence in the ﬁnancial services industry in the DIFC;
• To foster and maintain the ﬁnancial stability of the ﬁnancial services industry in the DIFC, including the reduction of systemic risk;
• To prevent, detect and restrain conduct that causes or may cause damage to the reputation of the DIFC or the ﬁnancial services industry in the DIFC, through appropriate means including the imposition of sanctions;
• To protect direct and indirect users and prospective users of the ﬁnancial services industry in the DIFC;
• To promote public understanding of the regulation of the ﬁnancial services industry in the DIFC; and
• To pursue any other objectives as the Ruler may, from time-to-time, set under DIFC Law.
In exercising its powers and performing its functions, the DFSA shall take into consideration the following guiding principles, being the desirability of:
• Pursuing the objectives of the DIFC as set out under Dubai Law in so far as it is appropriate and proper for the DFSA to do so;
• Fostering the development of the DIFC as an internationally respected financial centre;
• Co-operating with and providing assistance to regulatory authorities in the United Arab Emirates and other jurisdictions;
• Minimising the adverse effects of the activities of the DFSA on competition in the financial services industry;
• Using its resources in the most efficient way;
• Ensuring the cost of regulation is proportionate to its benefit;
• Exercising its powers and performing its functions in a transparent manner; and
• Complying with relevant generally accepted principles of good governance.