The Dubai Financial Services Authority (DFSA) has amended its requirements for credit rating agencies and prudential reporting following Consultation Paper No. 174 (CP 174).
Amendments to credit rating agency requirements
The updated rules are intended to strengthen the credit rating agency framework by adopting a more principles-based approach to assessing relationships that may cause, or may reasonably be perceived as causing, a conflict of interest.
They also remove duplicative or unnecessarily prescriptive disclosure requirements for credit rating agencies, while retaining the overarching obligation to provide sufficient information for users to understand how a credit rating was determined.
The credit rating agency amendments apply from 1 January 2027, allowing credit rating agencies sufficient time to adopt the updated requirements.
Amendments to prudential reporting requirements
The prudential reporting amendments streamline the reporting framework, including by capturing data previously reported in form B180 and B120 in the redesigned form B110. Form B110 applies to all authorised firms, which are only required to complete the data items applicable to them.
The prudential reporting amendments apply from 2 October 2026.
For further information
The DFSA has published a Feedback Statement on CP 174 which addresses the credit rating agency and prudential reporting requirements consulted on CP 174.
Firms and other interested parties should refer to the relevant DFSA rules for the complete requirements:
