RPP 8-2-2

The DFSA's adherence to these standards is a commitment:

(a) to enforce and ensure compliance with applicable financial services legislation, consistent with the Basel Core Principles for Effective Banking Supervision, the IAIS Core Principles for Effective Insurance Supervision, the IOSCO Objectives and Principles of Securities Regulation and the FATF Recommendations on combating money laundering, the financing of terrorism and proliferation of weapons of mass destruction;
(b) to provide the fullest mutual assistance to other financial services regulators regarding cooperation and the exchange of confidential information according to standards and procedures that are equivalent to those prescribed in the IOSCO Multilateral Memorandum of Understanding;
(c) to seek to ensure that DIFC or foreign laws or regulations about confidentiality or secrecy do not prevent the DFSA from obtaining, securing or disclosing confidential information where required for lawful regulatory purposes;
(d) to limit the disclosure of confidential information to other financial services regulators and enforcement agencies to what is required for lawfully ensuring compliance with, and enforcement of, applicable financial services and criminal legislation;
(e) to apply international best practices in obtaining and disclosing confidential information;
(f) to implement robust internal control systems and procedures that meet international best practices for the handling, storing, processing and securing of confidential information; and
(g) to implement data protection procedures that are equivalent to those prescribed in the European Union Directives so as to protect individual privacy rights according to international best practices.
Derived from Notice of Updates (Made 11th February 2015). February 2015 Edition