BSA Ahmad Bin Hezeem & Associates LLP ("BSA") are
pleased to support the recent exciting merger of the United Arab
Emirates Insurance Authority & Securities & Commodities
Authority into one financial regulatory body overseeing the
authorisation and regulation of insurance and investment as one
regulatory body. The UAE Federal Government formally announced the
merger of these two regulators as it did with other Government
Ministries. This is a positive change for the UAE insurance market
consolidating dual regulation into one framework. This will benefit
UAE public listed insurance companies as well as investment
advisors under one regulatory regime and legal framework avoiding
dual authorisation and dual regulation, which has often caused
complexity and uncertainty in the market. The merger will create a
new financial regulator ready to take on the issues such as, market
conduct, counterparty risk, solvency, and operational risk as well
as, what is hoped a new merger
