The Dubai Financial Services Authority has released a Whistleblowing Thematic Review assessing how effective whistleblowing frameworks are across DFSA Regulated Entities operating in, or from, the Dubai International Financial Centre. The report sets out eight themes spanning whistleblower protection, policies and procedures, governance, training and awareness, reporting channels, feedback, monitoring and testing, and record keeping, and signals that firms may be expected to show how they have addressed the areas identified. The review combined a survey with desk-based analysis and on-site visits, including follow-up work on a sample of 30 entities, and covered Authorised Persons, Registered Auditors and Designated Non-Financial Businesses or Professions while excluding Authorised Market Institutions. While many entities were observed to be going beyond DFSA requirements to build trust in whistleblowing arrangements, the DFSA also identified recurring weaknesses, including shortcomings in monitoring whether whistleblowers suffered detriment, gaps in policy content and escalation procedures, insufficient management information for governing body oversight, and inconsistent staff training and awareness. Reporting channel issues included limited availability for third parties and, in some cases, inaccurate or outdated reporting-channel information. Regulated Entities are encouraged to consider the findings in the context of their business activities and obligations, and future supervisory engagements may include requests to demonstrate how the review’s key areas have been addressed.

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