Explore every episode of the podcast The Riffle Podcast

In this episode of The Riffle Podcast, we unpack the Proposed ADGM Strata Regulations 2026 and the key changes they could bring to the governance and management of strata developments across ADGM.

We explore the proposed streamlined approval and registration process, automatic establishment of Owners’ Associations, the minimum six-month developer management transition period, mandatory licensed Association Managers, and enhanced financial oversight through General and Reserve Funds.  

The episode also looks at new requirements around structural defect reporting and the formal regulation of Contractual Common Ownership Schemes.  

With the proposals set to replace the existing Strata Title Regulations 2015, this episode provides a concise overview of what developers, property owners, managers and real estate professionals need to know.

Presented by 10 Leaves!

ADGM’s specialised Fund Manager frameworks provide tailored regulatory pathways for managers based on their fund size, investment strategy and investor profile.

In this episode of The Riffle Podcast, we explore the key requirements for Sub-Threshold Fund Managers (STFMs), Venture Capital Fund Managers (VCFMs), and Institutional Fund Managers (IFMs). We discuss the USD 200 million STFM threshold, VCFM-specific requirements, the USD 5 million minimum subscription for IFMs, capital requirements, regulatory dispensations, and Professional Indemnity Insurance obligations.

Tune in for a concise overview of how these specialised Fund Manager categories differ and the key considerations for managers looking to operate within ADGM’s regulatory framework.

Presented by 10 Leaves.  

In this episode of The Riffle Podcast, we explore the FSRA’s proposed reforms to the ADGM Transfer Scheme framework and what they could mean for regulated firms undertaking business transfers within the Abu Dhabi Global Market.

We discuss the key proposals in Consultation Paper No. 2 of 2026, including the move to limit mandatory court sanctioning primarily to insurance business transfers, the introduction of a new Modified Transfer Scheme for banking and other regulated financial services businesses, enhanced client notification requirements, and the proposed FSRA no-objection process for certain transfers.

The episode also examines the rationale behind the reforms, the regulatory safeguards designed to protect clients, and how the proposals aim to reduce costs and transaction timelines while maintaining appropriate regulatory oversight.

Whether you are a regulated financial institution, compliance professional, legal adviser, corporate services provider, or business operating within ADGM, this episode provides a practical overview of the proposed changes and their potential impact.

🎙️ Presented by 10 Leaves

In this Riffle episode, we explore FATF’s latest findings on global regulatory progress, the evolving risks associated with stablecoins, unhosted wallets, decentralised finance (DeFi) and artificial intelligence, and why the focus is shifting from introducing new rules to ensuring they are effectively implemented. We also discuss the growing threat posed by offshore VASPs, Travel Rule enforcement and the practical implications for firms operating in the virtual asset ecosystem.

Whether you’re a compliance professional, regulator, fintech founder, legal adviser or VASP, this episode offers a practical overview of the evolving global AML/CFT landscape and what FATF’s latest update means for the future of virtual asset regulation.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we explore the Financial Action Task Force’s (FATF) 2026 report, Information Sharing to Combat Illicit Finance: Global Overview of Public-Private Partnerships, and examine how collaborative information sharing is reshaping global AML/CFT frameworks.

The discussion covers the growing role of Public-Private Partnerships (PPPs) in strengthening anti-money laundering and counter-terrorist financing efforts, the evolution from traditional Suspicious Transaction Reporting (STR) to real-time intelligence sharing, and the different governance models being adopted across jurisdictions.

We also examine the distinction between strategic and operational information sharing, the increasing adoption of private-to-private information sharing frameworks, and the legal, governance, and data protection considerations that underpin effective collaboration. The episode further highlights global developments across jurisdictions and what these evolving partnerships mean for regulators, Financial Intelligence Units (FIUs), law enforcement agencies, financial institutions, Virtual Asset Service Providers (VASPs), and other reporting entities.

Whether you are an AML professional, compliance officer, regulator, financial institution, legal practitioner, fintech, VASP, or simply interested in the future of financial crime prevention, this episode provides a practical overview of how Public-Private Partnerships are becoming an essential pillar of modern AML/CFT systems.

Presented by 10 Leaves.

In this episode of The Riffle, we explore the Dubai Financial Services Authority’s (DFSA) Consultation Paper No. 173 (CP173), introducing proposed enhancements to the DIFC Collective Investment Fund framework.

The discussion examines DFSA’s shift towards a more flexible, risk-based approach to fund regulation, including proposed changes to specialist fund classifications, Credit Fund requirements, Venture Capital structures, and Master-Feeder Fund arrangements.

We also look at key operational updates for Fund Managers, employee participation in private funds, the proposed removal of the External Fund Manager regime, and future-focused developments such as fund tokenisation through Distributed Ledger Technology (DLT) and potential Long-Term Investment Funds (LTIFs).

With the consultation open until 7 September 2026, this episode highlights what these proposals could mean for Fund Managers, asset managers, investment professionals, and the wider DIFC funds ecosystem.

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In this episode of The Riffle, we examine the ADGM Registration Authority’s enhanced information requirements for annual accounts filing, effective July 2026.

The discussion covers the new structured data requirements, including financial periods, audit details, account classification, revenue, employee information, and reporting currencies.

We also explore how these updates aim to improve filing consistency, data quality, and regulatory analysis while keeping the existing filing process and deadlines unchanged.

A concise briefing for ADGM entities, finance teams, auditors, compliance professionals, and advisors preparing for the upcoming changes.

🎙️ Presented by 10 Leaves.

In this episode of The Riffle, we examine the Abu Dhabi Global Market’s (ADGM) 2026 Commercial Legislation Amendments and their implications for companies, LLPs, professional service providers, compliance officers, legal advisors, and other market participants operating within the jurisdiction.

The discussion explores key regulatory developments, including enhanced beneficial ownership and transparency requirements, trust information duties, nominee director and shareholder disclosures, and the introduction of Supplementary Operating Addresses (SOAs) to provide greater operational flexibility without establishing formal branches.

Further, the episode analyses the harmonisation of LLP governance with the Companies Regulations 2020, covering business formalities, accounting and audit requirements, member protections, and the introduction of ESG reporting obligations for larger LLPs. It also examines new licensing conditions for legal, tax, accounting, and company service providers, including professional indemnity insurance requirements, fit and proper person assessments, independent MLRO obligations, and cash transaction restrictions designed to strengthen financial integrity.

A concise briefing for Boards, senior executives, compliance professionals, legal advisors, company secretaries, professional service firms, and investors seeking to understand ADGM’s evolving regulatory framework and the practical implications of the 2026 commercial legislation reforms.

🎙️ Presented by 10 Leaves.

In this episode of The Riffle, we examine the UAE Financial Intelligence Unit’s strategic analysis on Environmental Crime Typologies and Money Laundering Risks and its implications for financial institutions, reporting entities, compliance professionals, MLROs, risk managers, and other stakeholders within the UAE’s AML/CFT framework.

The discussion explores key environmental crime typologies identified by the UAEFIU, including Illegal Wildlife Trade (IWT), the illicit trade of smuggled oil, illegal mining activities, and other environmental offences such as illegal logging, fisheries crime, and waste trafficking. It also examines the money laundering methods commonly associated with these crimes, including trade-based money laundering, shell and front companies, multi-jurisdictional layering arrangements, and the use of third-party intermediaries.

Further, the episode highlights the sectors most vulnerable to environmental crime risks, including banking, logistics, energy, and trading, while analysing behavioural, transactional, geographic, and customs-related risk indicators that can support effective detection and reporting. The conversation also addresses current challenges faced by reporting entities, including limited understanding of environmental crime typologies, insufficient intelligence sharing, and the increasing importance of proactive risk-based monitoring frameworks.

A concise briefing for compliance professionals, MLROs, financial institutions, legal advisors, internal auditors, risk managers, and reporting entities seeking to understand emerging environmental crime risks, money laundering typologies, and the broader implications for AML/CFT compliance and financial crime prevention in the UAE.

🎙️ Presented by 10 Leaves.

In this episode of The Riffle, we examine the Dubai Financial Services Authority’s (DFSA) thematic review on Personal Account Dealing (PAD) and its implications for brokerage firms, compliance officers, senior management, internal auditors, and other regulated entities operating within the DIFC.

The discussion explores key supervisory findings, including risk-based PAD policies and procedures, governance and oversight expectations, management information requirements, independent monitoring mechanisms, and post-trade surveillance practices. It also addresses the importance of effective compliance assurance, tailored training programmes, comprehensive record-keeping obligations, and the role of technology in strengthening PAD controls.

Further, the episode highlights common industry weaknesses identified by the DFSA, such as reliance on employee self-attestations, inadequate monitoring frameworks, policy gaps arising from business evolution, and insufficient oversight of digital assets and connected persons. The conversation also examines strategic considerations for firms, including conduct risk assessments, breach management processes, organisational culture, and the proportionality of monitoring arrangements.

A concise briefing for compliance professionals, MLROs, senior executives, legal advisors, internal auditors, risk managers, and regulated firms seeking to understand the DFSA’s expectations for Personal Account Dealing frameworks and the broader implications for governance, market integrity, and conduct risk management within the DIFC.

🎙️ Presented by 10 Leaves.

In this episode of The Riffle, we examine UAEFIU Regulation No. (1) of 2026 and its implications for financial institutions, Designated Non-Financial Businesses and Professions (DNFBPs), Virtual Asset Service Providers (VASPs), compliance professionals, and other Reporting Entities operating within the UAE’s AML/CFT framework.

The discussion explores the key regulatory measures introduced by the Regulation, including the new Postponement Suspicious Transaction Report (PSTR) framework, enhanced reporting obligations, and the UAE Financial Intelligence Unit’s expanded powers to issue Suspension Orders, Freezing Orders, and Monitoring Orders. Topics include the circumstances requiring urgent reporting, transaction postponement requirements, operational timelines, and the responsibilities of Reporting Entities when responding to FIU directives.

Further, the episode highlights customer due diligence considerations, restrictions on tipping-off, customer notification requirements for freezing orders, asset management obligations, recordkeeping standards, governance expectations, and the requirement for 24/7 operational readiness. Special attention is given to compliance officer responsibilities, internal controls, auditability requirements, and the sanctions that may arise from non-compliance under the UAE AML framework.

A concise briefing for compliance officers, MLROs, financial institutions, DNFBPs, VASPs, legal advisors, risk professionals, internal auditors, and regulated entities seeking to understand the UAEFIU’s enhanced powers and the practical implications of the latest regulatory framework for suspicious transactions and fund freezing measures.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine the key findings emerging from the ADGM Registration Authority’s 2025 DNFBP AML/TFS Onsite Assessments and their implications for Designated Non-Financial Businesses and Professions (DNFBPs) operating within ADGM.

The discussion explores recurring compliance gaps identified across 35 onsite assessments, highlighting the difference between having documented AML/TFS frameworks and effectively implementing them in practice. Topics include deficiencies in Business Risk Assessments (BRAs), Customer Risk Assessments (CRAs), Enhanced Customer Due Diligence (ECDD), governance oversight, and the treatment of Targeted Financial Sanctions (TFS) risks.

Further, the episode examines regulatory expectations surrounding risk-based methodologies, ongoing customer monitoring, source of wealth and source of funds verification, senior management approvals for high-risk relationships, and the importance of substantive annual AML/TFS reviews. It also discusses the Registration Authority’s recommended good practices, including independent testing of AML controls, dynamic risk assessments, and strengthened governance frameworks.

Special attention is given to the Registration Authority’s expectation that all DNFBPs conduct a risk-based self-assessment, implement remediation plans where necessary, and demonstrate active senior management oversight to address identified weaknesses.

A concise briefing for compliance professionals, MLROs, risk officers, legal advisors, auditors, corporate service providers, real estate firms, accounting practices, and other ADGM-regulated DNFBPs seeking to understand the Registration Authority’s supervisory priorities and strengthen the effectiveness of their AML/TFS compliance frameworks.

🎙️ Presented by 10 Leaves.

In this episode of The Riffle, we examine the DFSA’s Rulebook Amendments and their implications for banks, financial institutions, fintech firms, Islamic finance operators, and regulated entities operating within the DIFC.

The discussion explores the key regulatory enhancements introduced across the General (GEN), Prudential – Investment, Insurance Intermediation and Banking (PIB), Glossary (GLO), and Islamic Finance (IFR) modules, with implementation scheduled for January 2027. Topics include strengthened governance requirements, mandatory risk management functions for large and complex firms, Governing Body-approved Risk Appetite Statements, and enhanced expectations surrounding corporate and risk culture.

Further, the episode highlights new standards for management information systems (MIS), internal audit independence, credit classification and provisioning requirements, concentration risk management, large exposure limits, and capital adequacy considerations. Special attention is given to the incorporation of climate-related financial risks, digitalization risks, stress testing expectations, and amendments affecting Islamic finance institutions and Profit Sharing Investment Accounts (PSIAs).

A concise briefing for compliance professionals, risk officers, financial institutions, fintech operators, legal advisors, internal auditors, and DIFC-regulated entities seeking to understand the DFSA’s evolving supervisory expectations and the practical impact of its latest Rulebook reforms.

🎙️ Presented by 10 Leaves

Here's a description in the same style and tone as your previous The Riffle episodes, based on the uploaded AML Framework Enhancements document:

In this episode of The Riffle, we examine the ADGM Financial Services Regulatory Authority’s AML Framework Enhancements and their implications for financial institutions, virtual asset service providers, DNFBPs, compliance professionals, and regulated entities operating within the ADGM.

The discussion explores the key amendments introduced to the Financial Services and Markets Regulations 2015 (FSMR) and the Anti-Money Laundering and Sanctions Rulebook, effective May 2026. Topics include the alignment of ADGM’s AML framework with updated UAE federal legislation and FATF standards, strengthened governance and accountability requirements, and the continued emphasis on a robust risk-based approach to AML and sanctions compliance.

Further, the episode highlights enhanced expectations relating to customer due diligence, high-risk jurisdiction controls, record-keeping obligations, suspicious activity reporting, sanctions compliance, and the responsibilities of Governing Bodies, Senior Management, and Money Laundering Reporting Officers (MLROs). Special attention is given to Virtual Asset Service Providers (VASPs), targeted financial sanctions, and the increasing focus on operational resilience and regulatory oversight.

A concise briefing for compliance officers, MLROs, risk professionals, legal advisors, fintech operators, financial institutions, and ADGM-regulated entities seeking to understand the latest AML, CTF, and sanctions compliance developments within the UAE regulatory landscape.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine the DFSA’s Rulebook Enhancements aligned with the Basel Core Principles and their implications for financial institutions, banks, fintech firms, and regulated entities operating within the DIFC.

The discussion explores key regulatory updates introduced under Consultation Paper 167 (CP 167), including enhanced risk management frameworks, strengthened credit risk oversight, IFRS 9 provisioning alignment, expanded concentration risk definitions, and stricter related-party transaction governance requirements.

Further, the episode highlights the DFSA’s focus on independent risk functions, risk data aggregation and MIS standards, governance accountability, internal audit enhancements, and stronger supervisory expectations for large and complex firms.

A concise briefing for compliance professionals, financial institutions, fintech operators, risk officers, legal advisors, and DIFC-regulated entities seeking to understand evolving DFSA regulatory expectations and Basel-aligned supervisory standards.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine the UAE Proliferation Financing National Risk Assessment and its implications for financial institutions, Virtual Asset Service Providers (VASPs), fintech firms, and regulated entities operating within the UAE.

The discussion explores key proliferation financing risks identified in the assessment, including sanctions evasion, trade finance abuse, front company structures, cryptocurrency misuse, dual-use goods movement, and threats linked to DPRK and Iran-related networks. It also highlights vulnerabilities across VASPs, banks, free zones, and precious metals sectors.

Further, the episode outlines the UAE’s regulatory focus on Targeted Financial Sanctions (TFS), enhanced compliance controls, operational resilience, governance standards, and stronger coordination between authorities and the private sector.

A concise briefing for compliance professionals, financial institutions, fintech operators, legal advisors, trade finance professionals, and UAE-regulated entities seeking to understand evolving proliferation financing risks and regulatory expectations.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine the FSRA’s Cyber Threat Landscape and Regulatory Guidance for Virtual Asset Service Providers (VASPs), a significant regulatory briefing shaping cyber resilience expectations and risk management standards within the virtual asset sector.

The discussion explores key cyber threat categories identified by the FSRA, including infrastructure attacks, private key compromise, ransomware and extortion tactics, identity fraud, AI-generated impersonation, and supply chain vulnerabilities. It also highlights technical risks within decentralized finance (DeFi), including cross-chain bridge attacks, flash loan manipulation, and re-entrancy exploits.

Further, the episode outlines the FSRA’s recommended strategic security measures, including hardware-backed key custody, smart contract auditing, secure-by-design frameworks, phishing-resistant MFA, third-party risk management, incident readiness, and mandatory cyber incident reporting obligations within 24 hours.

A concise briefing for boards, senior management, compliance professionals, cybersecurity teams, Virtual Asset Service Providers, fintech operators, digital asset platforms, and ADGM-based entities seeking to understand evolving cyber resilience expectations and regulatory obligations within the UAE’s virtual asset ecosystem.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine the DFSA’s Proposed Enhancements to the Islamic Finance Rules (Consultation Paper 172), a significant regulatory initiative shaping the governance and regulatory framework for Islamic Financial Business within the DIFC.

The discussion explores key proposed amendments, including the clarification of “holding out” as conducting Islamic Financial Business, requirements for Islamic endorsements, enhanced Shari’a governance expectations, and reforms to Takaful disclosure obligations. It also highlights the regulatory treatment of Islamic digital assets, PSIAs, execution-only distribution exemptions, and the DFSA’s continued role as a Shari’a systems regulator focused on governance and compliance oversight.

A concise briefing for boards, senior management, legal and compliance teams, Islamic Financial Institutions, insurers, intermediaries, fund managers, and DIFC-based entities on understanding evolving regulatory expectations and operational requirements within the Islamic finance sector.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine ADGM’s 2026 ML/TF Risk Assessment for Legal Persons and Arrangements , a significant regulatory assessment shaping the jurisdiction’s risk-based supervisory and compliance framework.

The discussion explores key findings from the assessment, including the transition to a five-point risk rating scale, the identification of higher-risk legal structures, strengthened beneficial ownership transparency measures, and enhanced Company Service Provider (CSP) oversight. It also highlights ADGM’s evolving approach to inspections, enforcement, SPV nexus requirements, and AML/CFT risk mitigation aligned with international standards.

A concise briefing for boards, senior management, legal and compliance teams, financial institutions, and ADGM-based entities on understanding emerging ML/TF risks, regulatory expectations, and supervisory priorities within ADGM.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine ADGM’s 2026 Commercial Legislation Amendments , a significant regulatory update shaping how businesses operate within the jurisdiction’s evolving compliance framework.

The discussion explores key changes introduced by the Registration Authority, including the prohibition of bearer shares, enhanced beneficial ownership requirements, restrictions on non-profit activities, and the standardisation of filing procedures. It also highlights strengthened licensing standards, increased compliance obligations for service providers, and expanded enforcement powers of the Registrar.

A concise briefing for boards, senior management, legal and compliance teams, and ADGM-based entities on navigating these amendments and strengthening governance, transparency, and regulatory alignment.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine ADGM FSRA’s regulatory framework for the staking of virtual assets — a pivotal development shaping how firms can engage in staking activities within a regulated environment.

The discussion explores how Authorised Persons must obtain the appropriate permissions, implement robust operational controls, and ensure full transparency when using client assets for staking. It also highlights key expectations around client disclosures, real-time reporting, risk management (including slashing and lock-up risks), and the governance of third-party staking service providers.

A concise briefing for boards, senior management, virtual asset service providers, and compliance teams on navigating staking regulations and embedding strong oversight, client protection, and operational resilience into staking activities.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine ADGM FSRA’s latest regulatory enhancements to the insurance framework and the introduction of climate-related financial risk requirements — a significant shift in how firms are expected to assess, manage, and disclose emerging risks.

The discussion explores how institutions must integrate climate risk into governance structures, internal risk assessments, and strategic decision-making, while aligning with international standards such as IFRS 17 and IAIS principles. It also highlights expectations around materiality assessments, risk categorisation (physical, transition, and liability), enhanced market conduct, and strengthened reinsurance and reporting controls.

A concise briefing for boards, senior management, insurers, and compliance teams on navigating evolving regulatory expectations and embedding forward-looking risk management into core operations.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine the UAE’s guidance on the Compliance Officer (CO) and Money Laundering Reporting Officer (MLRO) function — a core regulatory requirement underpinning how firms detect, manage, and report financial crime risks. 

The discussion explores how institutions are expected to structure this role with sufficient seniority, independence, and authority, while ensuring robust oversight across transaction monitoring, suspicious activity reporting, sanctions compliance, and customer due diligence. It also highlights the importance of governance, resource allocation, and the integration of compliance into day-to-day operational decision-making. 

A concise briefing for boards, senior management, and compliance teams on building an effective compliance function and why the CO/MLRO role is central to meeting regulatory expectations and safeguarding financial systems.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine the Business Risk Assessment (BRA) framework as outlined by ADGM’s FSRA — a core regulatory requirement underpinning how firms identify and manage financial crime risk.

The discussion explores how firms are expected to assess inherent and residual risks across customers, geographies, products, and delivery channels, while ensuring strong governance, documented methodologies, and effective control frameworks. It also highlights the role of senior management oversight and the importance of integrating BRA outcomes into real business decisions.

A concise briefing for boards, senior management, and compliance teams on building a robust, defensible risk assessment framework — and why the BRA is central to meeting regulatory expectations.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine the Dubai Financial Services Authority’s Strategic Regulatory Relief Framework, introduced to support firms operating within the DIFC during an exceptional operating environment.

The discussion explores how the framework delivers targeted flexibility across licensing, staffing, reporting, and implementation timelines, while maintaining the DFSA’s core regulatory standards and supervisory expectations. It also outlines how relief measures are applied in practice and what remains unchanged for regulated firms.

A concise briefing for boards, senior management, and compliance teams on navigating regulatory flexibility without compromising governance, and what firms should prioritise during this period.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine the DFSA’s Consultation Paper No. 171 (2026), outlining proposed updates to the Prudential – Investment, Insurance Intermediation and Banking (PIB) and Conduct of Business (COB) modules.

The discussion focuses on the shift toward proportionality in capital requirement calculations, including the move from daily to monthly metrics for key components, alongside technical corrections to the client money reconciliation framework. It also highlights what remains unchanged and why certain requirements continue to demand daily monitoring.

A concise briefing for boards, senior management, finance teams, and compliance professionals on upcoming regulatory changes, operational impact, and what firms should prepare for ahead of implementation.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine the ADGM Registration Authority’s thematic review of the Non-Profit Organisation (NPO) sector, focusing on AML compliance and terrorist financing risk.

The discussion highlights the sector’s lower risk profile due to limited cash use, no public fundraising, and minimal high-risk exposure, while identifying key gaps in governance, beneficial ownership, and reporting.

A concise briefing for boards, senior management, MLROs, and compliance professionals on regulatory expectations and risk management within the NPO sector.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine the risks associated with stablecoins and peer-to-peer transactions conducted through unhosted wallets, as outlined in the targeted report on emerging virtual asset vulnerabilities.

The discussion explores the rapid expansion of the stablecoin ecosystem and how peer-to-peer transfers outside regulated intermediaries create challenges for AML/CFT supervision, sanctions enforcement, and financial crime detection.

We also highlight key threat actors, illicit transaction techniques such as chain-hopping and wallet layering, and the regulatory and technological measures being developed to strengthen oversight of stablecoin activity.

A concise regulatory briefing for boards, senior management, MLROs, compliance, risk, and legal teams seeking clarity on emerging financial crime risks within the virtual asset ecosystem.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine the FATF’s latest guidance on criminal asset recovery and its significance for strengthening the global response to financial crime.

The discussion explores the persistent global gap in confiscating illicit proceeds and how modern investigative techniques — including financial intelligence analysis and blockchain tracing — are being used to identify, freeze, and recover criminal assets.

We also outline the FATF’s strategic priorities, including stronger international cooperation, enhanced asset recovery frameworks, and mechanisms to return confiscated assets to victims and communities.

A concise regulatory briefing for boards, senior management, MLROs, compliance, risk, and legal teams seeking clarity on evolving global expectations around asset recovery and financial crime enforcement.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine the growing global threat of cyber-enabled fraud and its impact on financial crime risk in an increasingly digitalised financial system.

The discussion explores how technologies such as artificial intelligence, digital platforms, and instant payment channels enable large-scale fraud schemes, as well as the increasing use of virtual assets to move and obscure illicit proceeds.

We also outline the FATF’s strategic response, including payment transparency measures, strengthened asset recovery frameworks, VASP regulation, and the use of advanced technologies to detect suspicious financial activity.

A concise regulatory briefing for boards, senior management, MLROs, compliance, risk, and legal teams seeking clarity on the evolving risks associated with cyber-enabled fraud.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine the Dubai Financial Services Authority (DFSA) framework governing Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), and Countering Proliferation Financing (CPF)within the Dubai International Financial Centre (DIFC).

We explore the regulatory architecture underpinning AML compliance, including the DFSA’s risk-based approach, customer due diligence (CDD) and enhanced due diligence (ECDD) requirements, senior management oversight, and verification standards for individuals and legal persons.

The discussion also covers governance expectations for digital onboarding and automated monitoring systems, accountability for outsourced AML functions, internal audit requirements, and regulatory obligations related to sanctions screening and reporting.

A concise regulatory briefing for boards, senior management, MLROs, compliance, risk, and legal teams seeking clarity on DFSA AML supervisory expectations and compliance standards in the DIFC.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine the UAE Travel Rule framework applicable to Virtual Asset Service Providers (VASPs) operating across the UAE.

We explore the regulatory architecture underpinning Travel Rule compliance, including mandatory collection, verification, and transmission of originator and beneficiary information, universal cross-border application, verification thresholds, and enhanced controls for higher-risk transfers.

The discussion covers the respective obligations of originator, beneficiary, and intermediary VASPs, supervisory expectations in relation to unhosted wallets, prohibited virtual assets, STR/SAR reporting requirements, and the Travel Rule’s function as a core AML and CTF safeguard within the UAE’s virtual asset ecosystem.

A concise regulatory briefing for boards, senior management, MLROs, compliance, risk, and legal teams seeking clarity on Travel Rule implementation and supervisory standards in the UAE.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine the Dubai Financial Services Authority’s supervisory communication issued on 1 March 2026 in response to evolving regional geopolitical developments and the resulting expectations for Authorised Firms within the DIFC.

The discussion outlines the DFSA’s confirmation of operational continuity, financial system resilience supported by capital and liquidity buffers, and recent stress-test outcomes.

We review the four supervisory priorities — business continuity, governance oversight, heightened risk vigilance, and proactive regulatory communication — alongside enhanced monitoring indicators, capital and funding sensitivities, and sector-specific vulnerabilities.

Particular focus is given to mandatory escalation triggers requiring prompt notification via the DFSA ePortal where risks become systemic or threaten orderly operations.

A concise overview for boards, SEOs, risk, compliance, and legal teams seeking clarity on current supervisory expectations within the DIFC.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine the 2026 amendments to the Dubai Financial Services Authority’s Anti-Money Laundering, Counter-Terrorist Financing and Sanctions Module (AML), enacted under Rule-Making Instrument No. 435 of 2026.

The discussion explores the alignment of the DIFC regulatory framework with Federal Law No. 10 of 2025 and Cabinet Resolution No. 134 of 2025, effective 2 March 2026, and the resulting expansion of supervisory expectations for Authorised Firms and DNFBPs.

We analyse the formal integration of proliferation financing into the AML regime, enhanced customer due diligence requirements for natural and legal persons, the risk-based approach to beneficial ownership without fixed thresholds, and strengthened governance responsibilities for senior management and MLROs.

Particular attention is given to the explicit application of Federal AML obligations to Virtual Asset Service Providers (VASPs), enhanced sanctions screening requirements, SAR reporting obligations to the Financial Intelligence Unit, and the DFSA’s reinforced administrative penalty powers within the DIFC.

A concise overview for boards, senior management, MLROs, compliance officers, legal teams, VASPs, and regulated entities seeking clarity on the heightened AML and financial crime compliance expectations under the revised framework.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine Dubai’s Real Estate Tokenisation Pilot and the regulatory oversight framework governing its controlled implementation under the Virtual Assets Regulatory Authority (VARA).

The discussion explores the pilot’s phased progression from initial technological and regulatory validation to its current evaluation stage, including the assessment of secondary-market mechanisms and the conditions required for future scalability.

We also consider the legal architecture underpinning the initiative, including Dubai Law No. 4 of 2022, Cabinet Resolution No. 111 of 2022, and the applicable VARA Rulebooks, alongside jurisdictional scope across Dubai Mainland and Free Zones, with the DIFC excluded.

Particular attention is given to VARA’s formal marketplace alert addressing unauthorized promotional claims, the mandatory licensing requirement for virtual asset activities, verification through the VARA Public Register, and reporting of unlicensed conduct.

A concise overview for boards, senior management, compliance officers, legal teams, digital asset operators, and market participants seeking to understand the supervisory parameters governing tokenised real estate activity within Dubai’s regulated virtual asset ecosystem.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine the VARA Connect Portal — the official digital interface of the Virtual Assets Regulatory Authority (VARA) for managing regulatory applications and supervisory engagement within Dubai’s virtual asset ecosystem.

The discussion explores the operational architecture of the portal, including entity onboarding, the Initial Disclosure Questionnaire (IDQ) process, activity-based dynamic disclosures, and the structured governance model underpinning application submissions.

We also consider key procedural elements such as access controls and multi-factor authentication, the single-editor rule, consultant authorisations, RFI batch management, payment verification workflows, and the staged communication framework applicable pre- and post-submission.

A concise overview for boards, senior management, compliance officers, legal teams, consultants, and virtual asset firms seeking to navigate VARA’s digital application environment efficiently and in line with supervisory expectations.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine the Financial Services Regulatory Authority’s Cyber Risk Survey Findings and Recommendations, as set out in FSRA Notice No. 15 of 2026, and their implications for firms operating in the Abu Dhabi Global Market (ADGM).

The discussion explores the results of the FSRA’s Q3 2025 supervisory cyber risk survey, assessing the maturity of cyber risk management frameworks across Authorised Persons and Recognised Bodies, and identifying recurring governance and control weaknesses observed by the regulator.

We also consider key findings relating to board and senior management accountability, ICT asset identification, third-party risk management, adversarial testing, monitoring capabilities, and incident response preparedness, alongside the regulatory expectations underpinning the Cyber Risk Management Rules effective from 31 January 2026.

A concise overview for boards, senior management, CISOs, IT, risk, compliance and legal teams, and ADGM firms seeking to align their cyber risk frameworks with FSRA supervisory expectations and upcoming regulatory requirements.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine the UAE Travel Rule framework and its implications for Virtual Asset Service Providers (VASPs operating within the UAE).

The discussion explores regulatory expectations around the collection, verification, and transmission of originator and beneficiary information, scope and universal application across jurisdictions, verification thresholds, and role-specific obligations for originator, beneficiary, and intermediary VASPs.

We also consider enhanced due diligence for unhosted wallets, prohibited assets such as privacy tokens, risk-based decisioning, and STR/SAR reporting obligations to the UAE Financial Intelligence Unit.

A concise overview for boards, senior management, compliance and legal teams, risk and AML functions, and VASPs seeking to align their controls and operating models with UAE regulatory expectations.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine the Financial Services Regulatory Authority’s revised IT and cyber incident reporting framework and its implications for Authorised Persons operating in the ADGM.

The discussion explores the FSRA’s expectations around timely incident identification and escalation, immediate notification obligations, the 24-hour reporting backstop, and the use of structured reporting templates across the incident lifecycle.

We also consider incident classification, impact and severity assessments, progressive reporting, supervisory engagement, and interaction with broader regulatory and legal reporting obligations.

A concise overview for boards, senior management, compliance and legal teams, IT and risk functions, and ADGM firms seeking to align their incident reporting and cyber risk frameworks with FSRA regulatory expectations.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine the Financial Services Regulatory Authority’s thematic review on outsourcing and its implications for Authorised Persons operating in the ADGM.

The discussion explores the FSRA’s expectations on identifying outsourcing arrangements, distinguishing material and non-material outsourcing, and maintaining effective governance, due diligence, and ongoing oversight over third-party service providers.

We also consider operational resilience, contingency planning, record-keeping, and heightened supervisory scrutiny on outsourced Approved Persons, including Compliance Officers and MLROs.

A concise overview for boards, senior management, compliance and legal teams, risk functions, and ADGM firms seeking to align their outsourcing frameworks with FSRA regulatory expectations.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine the Virtual Assets Regulatory Authority (VARA)’s guidance on investor classification and onboarding and its implications for Virtual Asset Service Providers operating in Dubai.

The discussion explores how VARA requires VASPs to categorise clients as Retail, Qualified, or Institutional Investors, the financial and knowledge-based eligibility thresholds for accessing high-risk virtual asset products, and the mandatory onboarding, suitability, and verification controls that firms must implement.

We also consider lifecycle management, reclassification triggers, record-keeping obligations, and VARA’s supervisory and enforcement expectations.

A concise overview for boards, senior management, compliance and legal teams, risk functions, and VASPs seeking to align investor onboarding frameworks with VARA’s regulatory standards.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine the misuse of virtual assets in financial crime and the evolving risks shaping the UAE and global regulatory landscape.
The discussion explores how fraud, money laundering, illegal gambling, and sanctions circumvention are increasingly facilitated through virtual assets, including the use of stablecoins, decentralized platforms, and sophisticated transaction layering techniques.

We also consider the challenges these developments pose for AML/CFT frameworks, including Travel Rule implementation, beneficiary tracing, and VASP readiness.

A concise overview for boards, senior management, MLROs, compliance teams, and risk functions navigating the growing complexity of virtual asset financial crime.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we examine the Abu Dhabi Global Market’s guidance on crypto mining activities and its implications for entities operating in or from ADGM.

The discussion explores how crypto mining is classified under ADGM’s commercial licensing regime, the regulatory expectations around governance, cybersecurity, transparency, and on-chain asset disclosures, and the heightened scrutiny applied to large-scale and global mining operations. We also consider ADGM’s risk-based supervisory approach and the enforcement tools available to ensure responsible innovation.

A concise overview for boards, senior management, legal and compliance teams, and businesses assessing crypto mining operations within ADGM.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we explore how artificial intelligence and deepfake technologies are reshaping financial crime risks and challenging existing AML and fraud controls.

The discussion examines the use of deepfakes and synthetic identities to bypass KYC, CDD, and biometric verification, the growing sophistication of AI-enabled fraud, and the pressure this places on compliance frameworks. We also consider how financial institutions and regulators are responding through enhanced detection tools, governance, and supervisory expectations.

A concise overview for boards, senior management, MLROs, and compliance teams navigating the risks of AI-enabled financial crime.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we break down ADGM’s proposed update to the Insurance Regulatory Framework, as set out by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market .

We unpack how the FSRA is seeking to modernise insurance and reinsurance regulation through a more risk-sensitive, economic capital-based approach aligned with leading global standards such as Solvency II, the Bermuda BSCR, and IAIS principles. The episode explores the proposed introduction of the ADGM Solvency Capital Requirement (ASCR), tiered own funds, internal model options, and a clearer intervention framework tied to capital adequacy.

The discussion also examines forward-looking reforms aimed at fostering innovation, including synthetic sidecars, the development of an Insurance-Linked Securities (ILS) market, expanded investment flexibility under the Prudent Person Principle, and the evolving treatment of alternative, digital, and related-party assets. We further highlight enhancements to group supervision, governance, recovery and resolution planning, and the broader implications for reinsurers, insurers, and capital providers operating in ADGM.

A clear, practical overview for boards, senior management, risk and compliance teams, and market participants assessing how the proposed framework could reshape prudential regulation, capital strategy, and innovation within ADGM’s insurance ecosystem.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we unpack the Dubai Financial Services Authority (DFSA) Thematic Review on Conflicts of Interest, examining what the regulator expects from Authorised Firms operating in the Dubai International Financial Centre (DIFC).

We break down the key findings from the DFSA’s cross-sectoral review — from weaknesses in governance, risk assessments, and Board oversight, to gaps in identification, monitoring, record-keeping, inducements, and employee training. The episode highlights why low levels of reported conflicts are a red flag, how over-reliance on employee disclosures falls short of regulatory expectations, and where firms are most exposed to supervisory risk.

Alongside the deficiencies, we also explore examples of good industry practice, including robust governance frameworks, proactive conflict identification, effective monitoring by second- and third-line functions, and practical, scenario-based training models.

A clear, practical overview for compliance teams, senior management, and Authorised Firms seeking to align their conflicts of interest frameworks with DFSA expectations and strengthen market integrity.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we break down the DFSA’s Policy Statement on assessing the fitness and propriety of Authorised Individuals under GEN Rule 7.6.5.

We unpack how the DFSA applies a case-by-case, holistic assessment framework built around three core pillars — integrity, competence and capability, and financial soundness. The episode explores the key conduct, regulatory, employment, and financial factors that may influence an individual’s suitability, while clarifying why adverse findings do not automatically result in rejection.

A clear, practical overview for compliance teams, senior management, and Authorised Individuals navigating DFSA expectations across the DIFC.

🎙️ Presented by 10 Leaves

In this episode of The Riffle, we break down the DFSA’s policy framework for assessing the suitability of Fiat Crypto Tokens and what it means for firms operating in or from the DIFC.

We unpack the DFSA’s expectations around price stability, reserve backing, and governance, including strict requirements on asset quality, liquidity, segregation, and daily valuation of reserves. The episode also explores transparency and accountability obligations, AML regulatory equivalence standards, and the limits of relying on third-party verifications.

We also examine the practical implications for Authorised Firms, highlighting that DFSA approval of a Fiat Crypto Token does not remove a firm’s responsibility to maintain robust systems, controls, and ongoing risk assessments when using these tokens.

If you want a clear, practical summary of how this policy impacts Authorised Firms, compliance teams, SEOs, MLROs, and senior management assessing or using fiat-referenced crypto tokens within the DIFC, this episode delivers the essentials.

Presented by 10 Leaves!

In this episode of The Riffle, we break down the DFSA’s supervisory guidelines on assessing the suitability of Crypto Tokens and what they mean for regulated firms operating in the DIFC.

We unpack the DFSA’s expectations around mandatory suitability assessments, the context-specific nature of these reviews, and the five core criteria firms must consider — from token characteristics and regulatory standing to market, technology, and DFSA compliance. The episode also explores how firms should identify and document risks, rely on third-party assessments responsibly, and retain full accountability for suitability decisions.

If you want a clear, practical summary of how these guidelines impact Authorised Firms, compliance teams, SEOs, and senior management using or considering Crypto Tokens, this episode delivers the essentials.

Presented by 10 Leaves!

In this episode of The Riffle, we break down the DFSA’s final Feedback Statement on Consultation Paper 165 and what it means for Licensed Functions and Authorised Individuals operating in the DIFC.
We unpack the regulator’s decision to retain DFSA authorisation for Compliance Officers, Finance Officers, and Senior Managers, the rejection of Designated Functions and Designated Individuals, and the reinforced expectation that firms remain accountable for assessing fitness and propriety. The episode also explores the introduction of mandatory annual reviews, the expansion of the Conduct Principles to Relevant Employees, and the clarified scope of key Licensed Functions.
If you want a clear, practical summary of how these changes impact Authorised Firms, compliance teams, SEOs, and senior management preparing for implementation in 2026, this episode delivers the essentials.

Presented by 10 Leaves!