Middle East Financial Services Compliance and Regulation Solutions
Kroll’s Financial Services Compliance and Regulation experts help clients build, manage and protect their businesses both in the United Arab Emirates and more broadly in the Middle East.
We achieve this by developing, implementing and managing their compliance and regulatory programs. Our teams have a strong track record of assisting firms with licencing projects in the Dubai International Finance Centre (DIFC) with the Dubai Financial Services Authority (DFSA), as well as in the Abu Dhabi Global Market (ADGM) with the Financial Services Regulatory Authority (FSRA) in the UAE. The team has also worked on applications and projects with the Central Bank of UAE, Securities and Commodities Authority (SCA) and Virtual Assets Regulatory Authority (VARA).
We provide solutions that help firms meet their day-to-day compliance needs and deal with growing challenges:
Authorization
- Advice on regulatory licensing requirements
- Assistance on understanding authorization and licensing requirements
- Support with drafting applications and on submission
- Active management of application process
- Assistance with communication to the regulator
- Drafting anti-money laundering (AML), compliance, risk and governance policies
- Developing business plans for financial firms
Structuring the Compliance Framework
- Conduct a tailored compliance risk assessment to allow effective allocation of compliance resources
- Design a workable compliance monitoring framework, taking into account supervisory priorities
- Design policies and procedures to best fit the business
- Develop compliance testing templates bespoke to the firm’s investment services
Ad Hoc Advice and Support
Advice on specific regulatory issues and help in communication with the regulator, provided by senior consultants
- Assistance with remediation of recommendations
- Independent review of reporting and communications to the regulator
- Independent compliance health assessment
- Operational Readiness Assessment
- Thematic assistance (ESG, AML, etc.)
Secondments and Extra Resources
- Act as outsourced regulatory compliance function
- Act as outsourced internal audit function
- Conduct control plan
- Conduct internal audit plan
Online/Face–to–Face Training
- Develop training materials and deliver face-to-face training from a senior consultant on key topics such as AML, governance, risk and market abuse
- Customized workshops or training for specific populations of staff within the firm (fund managers, marketing teams, etc. to meet all training needs)
Regulatory Monitoring
- Client alerts and reminders on regulatory deadlines
- Raise awareness on current and future regulatory changes specific to the firm and provide advice on actions needed
DFSA – Fit and Proper Requirements
The Dubai Financial Services Authority (DFSA) has issued Consultation Paper No. 165, proposing a significant shift in its approach to certain Licensed Functions. Under the proposed changes, roles such as Compliance Officer, Finance Officer, and Senior Manager would be reclassified as Designated Functions, transferring the responsibility for assessing fitness and propriety from the DFSA to the firms themselves. This move aims to enhance firm-level accountability and better align with global regulatory standards.
Kroll is well-positioned to support firms in navigating these changes. With deep expertise in financial regulation, compliance and risk management, and a strong global track record, Kroll offers tailored support in the following areas:
- Fit and Proper Assessments
- Regulatory Attestation Strategy
- Training and Culture Development
- Governance Frameworks
- Operational Readiness
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Financial Services Compliance and Regulation
In the ever-evolving financial services landscape, Kroll's award-winning team offers comprehensive regulatory and compliance services, guiding clients through registration, licensing, and compliance support to minimize risks and enhance efficiency globally.
U.S. Solutions
Navigate the ever-changing U.S. financial regulatory environment with confidence. Kroll provides unparalleled expertise in SEC, FINRA, NFA and CFTC regulations, helping clients mitigate risks, maintain current compliance programs and confidently overcome regulatory challenges.
UK Solutions
The UK regulatory landscape is constantly evolving, with new Financial Conduct Authority (FCA) initiatives introduced and working practices regularly updated at a European level.
