The Regulatory Law 2004 provides that the DFSA shall be comprised of the Chairman of the DFSA, the DFSA Board of Directors, the Regulatory Appeals Committee and other Committees of the Board as may be duly appointed from time to time, the Financial Markets Tribunal and the Chief Executive and members of his staff.
In addition to the Committees required by statute, the Board has established 4 Committees to assist it in discharging its functions. These are the Legislative Committee, Governance and Nominations Committee, Audit and Risk Committee and the Remuneration Committee. These Committees form a solid platform for good governance, efficiency and redress.
Some Committees include Members who are not Members of the Board, while the Chairman of the DFSA Board is an ex-officio Member of all Board Committees, except the Audit and Risk Committee and the Regulatory Appeals Committee.
The DFSA Values reflect the core DIFC operating principles of Integrity, Transparency and Efficiency and are firmly embedded in the DFSA’s Rules and Procedures and in the DFSA Code of Values and Ethics for employees.
The Code sets appropriate international best practice standards, in relation to the use of confidential regulatory information, conﬂicts of interest and the giving and receiving of gifts and beneﬁts. It is designed to complement the conflict of interest and confidentiality provisions in the Regulatory Law 2004.
The DFSA Board of Directors has adopted a similar Code of Values and Ethics appropriate for members of the Board, Committees and Tribunals and can be viewed here.
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