DFSA Issues new Markets Brief on Inside Information

On 24 September 2020, the Dubai Financial Services Authority (the DFSA - the independent financial regulator for the Dubai International Financial Centre free zone , the DIFC) circulated a new Markets Brief (Issue No. 21) on Inside Information, providing invaluable guidance on identifying insiders, maintaining insider lists, and record-keeping obligations for Reporting Entities, under its Markets Rules. The new Markets Brief also outlines the DFSA's expectations on the various systems and controls that should be in place for Reporting Entities. Reporting Entities include, but are not limited to, those whose securities are admitted on the DFSA's Official List of Securities, or those making an Offer of Securities to the Public (other than units of a fund/collective investment scheme - unless the fund is a Listed Fund, such as an ETF).

Those whose securities (equities, DCM products, derivatives or otherwise) that are listed on one of the the DIFC's two Authorised Market Institutions (i.e. securities exchanges) - NASDAQ Dubai and the Dubai Mercantile Exchange (the DME) - should take particular note of such obligations and expectations.

DFSA Markets Brief Issue No. 21 can be accessed here.