DFSAis committed to open and transparent communication with Authorised Firms. From time to time, the DFSAmay issue letters to Senior Executive Officersor equivalent persons across the DIFC(commonly referred to as 'Dear SEO Letters'). Frequently, these letters will be issued as a means of communicating findings arising from completed thematic visits. However, they may also be issued in response to other major events or changes. For example, such a letter may include an update from relevant United Nations Security CouncilSanctions or Resolutions or the Financial Action Task Force, in relation to the prevention of money laundering and combating the financing of terrorism.
In addition to the
Senior Executive Officerletters, the DFSAmay issue s and warnings in response to particular matters of concern. An example of this could be in relation to matters concerning fraudulent activity that the DFSAhas become aware of.
DFSAholds outreach sessions from time to time, to interact with firms operating in the DIFC. These sessions are held to discuss regulatory matters in an open manner.
From time to time, the
DFSAmay consider a particular item of communication to an Authorised Firmto be of key regulatory importance. For this reason, the DFSAmay consider it necessary to issue such communications directly to a senior member of staff at the Boardlevel of the DIFCentity copied (where appropriate) to the group's home state regulator. For entities established as a Branchin the DIFC, these communications will likely be delivered to the Chairman of the Boardat the DIFC Branchentity's head or Parentoffice. For DIFCincorporated entities, communications will likely be delivered directly to the Chairman of the firm's Boardor head office. These communications may include, for example, the results of DFSA'srisk assessment visits where a risk mitigation plan has been sent that contains significant matters of concern to DFSA'sobjectives.