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DFSA Licence Changes

DFSA Licence Changes

On 21st June 2016, the DFSA issued Consultation Paper 106 on the Regulation of Arranging, Representative Office Activities and Financial Promotions.
One of the outcomes of the Consultation Paper was the introduction of a new Financial Service relating to credit and a related amendment to two other existing Financial Services, all effective from 1st February 2017.
Financial Services up to 31st January 2017 Financial Services with effect from 1st February 2017
Arranging Credit and Deals in Investments Arranging Deals in Investments
Advising on Financial Products and Credit Advising on Financial Products
N/A Arranging Credit and Advising on Credit


The Dubai Financial Services Authority (DFSA) has also introduced additional detailed guidance in its Rulebook to describe what certain Financial Services (including the ones mentioned above) do and do not entail. Based on this, if a company believes it needs to apply for a fresh Licence from the DFSA, it will need to do so promptly.
The new rules also confirm that those companies with existing authorisation to conduct credit related advising and arranging will automatically be authorised for this activity under the reclassified category of ‘Arranging credit and advising on credit’.
In light of the above, it is recommended that companies:


  1. Review the financial services that they offer and ensure the correct authorisations are held by them;
  2. Visit the DFSA’s Public Register to check that its listing shows the correct Financial Services; and
  3. Ensure that their internal policies and manuals are up to date to reflect the changes.
If you require any assistance with applying to the DFSA for a new Licence or with updating internal policies and manuals, we can help. Please email us at or call us on +971 4 386 6360.
Our earlier blog post may also be of interest to you - Are you operating within the scope of your DFSA Representative Office licence?