📢 Regulatory Update from #DFSA: Compliance Officer No Longer a Licensed Function The Dubai Financial Services Authority (DFSA) has published Consultation Paper No. 165, proposing significant changes to its approach to Licensed Functions within DIFC-based financial institutions.

🔍 #Key #Highlight: The role of the Compliance Officer is proposed to no longer be a licensed function. However, the Money Laundering Reporting Officer (MLRO) will continue to require DFSA approval as an accredited individual.

💼 This shift reflects DFSA’s evolving risk-based supervisory model and aims to streamline governance requirements while maintaining strong AML/CFT oversight.

📄 Professionals in the DIFC compliance and AML space should review the paper to understand how these changes may affect their roles and licensing obligations.

🔗 Read more: Consultation Paper No. 165 – DFSA Rulebook https://lnkd.in/dCBT2PRK