Dubai To Host Key Regulatory Meetings

by Lorys Charalambous, for LawAndTax-News.com, Cyprus

25 July 2006

The Dubai Financial Services Authority (DFSA) has announced that it will be hosting two important meetings of international regulators to be held in Dubai next year.

In February 2007, the DFSA will host a meeting of the Technical Committee of the International Association of Insurance Supervisors.

The IAIS is the peak international standard-setting and representative organization of insurance regulators and supervisors, with more than 180 member jurisdictions. Its Technical Committee (of which the DFSA is a member) is responsible for key strategic, policy and standard-setting functions.

Then, in December 2007, the DFSA will host the annual meeting of the Emerging Markets Committee of the International Organisation of Securities Commissions (IOSCO). IOSCO represents worldwide securities regulators drawn from 118 member jurisdictions. The Emerging Markets Committee is the largest of IOSCO's three principal committees, and represents 82 jurisdictions.

"We are delighted that the DFSA has been invited to host these prestigious meetings in Dubai," commented DFSA Chief Executive, Mr David Knott. "Both the IAIS and IOSCO are the leading international regulatory standard setters in their fields."

"These meetings will give the DFSA an opportunity to fully brief these important policy makers on the progress of regulatory reform within the UAE and, in particular, the successful application of international standards within the Dubai International Financial Centre," he added.

Recommended