The Dubai Financial Services Authority (DFSA) released on 16 January its Whistleblowing Thematic Review, conducted in 2024 to assess the effectiveness of whistleblowing frameworks across DFSA Regulated Entities.
In a statement it said the “comprehensive review, which involved surveys, desk-based analysis, and on-site visits, highlights the critical role whistleblowers play in detecting, escalating, and addressing misconduct”.
It also emphasised the importance of robust whistleblowing policies and procedures in fostering a speak-up culture and promoting ethical behaviour.
The report outlines eight key themes and findings, including whistleblower protection, policies and procedures, governance, and training and awareness.
The DFSA observed that many entities are exceeding regulatory requirements by implementing additional measures to build trust in whistleblowing arrangements, encourage transparency, and embed whistleblowing practices into their corporate culture.
All Regulated Entities are encouraged to consider the findings and incorporate them into their operations.
Future engagements with the DFSA may require entities to demonstrate how they have addressed the review’s key areas.
