Disclosure of Decisions
DFSAwill generally make public any decision made by the DMC, and will do so in a timely manner after any relevant period to institute a referral of the decision to the FMThas expired or when a matter is referred to the FMT (see RPP 15-17-11).
If the affected
Personexercises its right of referral then, as required by Article 29 of the Regulatory Law, the DFSAwill publish appropriate information about the decision which has been referred to the FMT unless publication would, in the DFSA’s opinion, be prejudicial to the interests of the DIFC or the FMT has made an order that such information should not be published. When the referral has been heard and determined, or the FMT proceedings have otherwise come to an end, the DFSAexpects to publish information about the outcome of those proceedings (subject only to the FMTordering otherwise — see 5-17-12).
FMT or a court decision
Regulatory Lawrequires all FMThearings to be heard in public unless the FMTorders otherwise or its rules of procedure provide otherwise. The FMTmay exercise its discretion not to make public any decisions it may make. Where it does determine to publish a decision or interim decision, the FMTwill publish these on the DFSAwebsite. Following hearings and decisions by the FMT, the DFSAexpects to make timely public disclosure of the FMT'sdecisions, including any interim decisions, unless otherwise ordered.
Decisions made by the courts will be published by the
DFSAin a timely manner, unless ordered otherwise.
This approach is adopted on the basis that any delay in disclosure may hinder and unfairly prejudice the
DFSAin achieving some of its primary objectives. For example, non-disclosure may potentially prejudice users and prospective users of financial services in the DIFCif they are acting unaware of facts known in the enforcement action.