Compliance and Corporate Secretarial Advisory

The compliance sector landscape in GCC countries is characterized by rapidly evolving regulatory laws being promulgated evidenced in tailored AML/CFT laws for financial and non-financial sectors, increased enforcement of compliance requirements and a growing emphasis on corporate governance. The financial sector, including banking and insurance, faces stringent prudential compliance requirements by the central banks and financial regulatory authorities in the GCC to enforce compliance with international standards like those set by the Financial Action Task Force (FATF). Similarly, compliance with many other laws such as the Corporate Governance, Labor law, Health & Safely, ESG, Cybersecurity, GDPR, Anti-Bribery, Competition, etc, is a daunting task for companies in GCC. These requirements are spread across public and private sectors, and require mandatory reporting, disclosures, and transparency requirements to enhance investor confidence and protect stakeholders.

Our Comprehensive Suite of Services

Our Compliance professionals possess outstanding experience credentials and and our Compliance Advisory practice includes the following services:

01. AML/CFT

Our Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) practice offers a variety of services designed to help organizations detect, prevent, and report money laundering and terrorist financing activities. Our AML/CFT practice is built around the following:

The UAE Federal Decree 20 of 2018 on Anti-Money Laundering, Countering the Financing of Terrorism and Illegal Organizations (“The AML Law”)

Laws issued by Dubai Financial Services Authority (DFSA) and Abu Dhabi Financial Services Regulatory Authority (FSRA);

Cabinet Decision No. 10 of 2019 Concerning the Implementing Regulation of the AML Law.

These services typically include:

Risk Assessment and Management

Policy and Procedure Development

Compliance Program Design and Implementation

Regulatory Compliance Outsourcing

Sanctions Screening and Transaction Monitoring

Know Your Customer (KYC) Remediation

Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD)

Technology Solutions and Automation

Independent Compliance Audits, Reviews and Forensics

Training

02. Regulatory Compliance (e.g. Laws on Competition, Consumer Protection, etc)

GCC countries have many general and industry specific laws that consume valuable time and effort of companies’ management teams. Our UAE Regulatory Compliance services are structured around various laws some of which have been referred below:

Commercial Companies Law (Federal Law No. 2 of 2015 as amended by Federal Law No. 26 of 2020)

Data Protection Law (Federal Decree Law No. 45 of 2021)

UAE Penal Code (Federal Law No. 3 of 1987)

Competition Law (Federal Law No. 4 of 2012)

UAE Labour Law (Federal Decree Law No. 33 of 2021)

Value Added Tax (VAT) Law (Federal Decree Law No. 8 of 2017)

Foreign Direct Investment (FDI) Law (Federal Decree Law No. 19 of 2018)

Health and Safety Regulations (Fire and Life Safety Code of Practice)

Cybersecurity Law (Federal Law No. 5 of 2012)

Federal Law No. 24 of 1999 for the Protection and Development of the Environment)

Intellectual Property Laws e.g. Trademark Law (Federal Law No. 37 of 1992), Patent Law (Federal Law No. 31 of 2006), and Copyright Law (Federal Law No. 7 of 2002),

Real Estate Regulations e.g. Dubai Real Estate Regulatory Agency (RERA) regulations

Free Zone Regulations (Around 50 Free Zones laws to be complied by the registrants)

Law No. (4) of 2022 Regulating Virtual Assets in the Emirate of Dubai

Others

03. Enterprise Risk Management (ERM) Services

Our ERM Services portfolio offers a wide range of activities aimed at identifying, assessing, managing, and monitoring risks across an organization. These services include the following:

Risk Identification and Assessment

Risk Analysis

Risk Mitigation Planning

Risk Monitoring and Reporting

Risk Governance Framework Development

Scenario Analysis and Stress Testing

Risk Tolerance Setting

Strategic Planning Integration

Crisis Management and Business Continuity Planning

Compliance Management

Data Analytics

ERM Technology

Training

04. Corporate Governance (e.g. UAE SCA Code of Corporate Governance)

Our Corporate Governance Advisory service-offerings include the following:

Governance Framework Development

Designing and implementing governance frameworks, policies and procedures tailored to the organization’s structure, goals, and regulatory environment that entail codes of conduct, conflict of interest policies, and whistleblower policies.

Board Advisory Services

Assisting with the selection, composition, and evaluation of board members, and providing training and development for board members to enhance their effectiveness.

Corporate Governance Audits and Performance Evaluation

Conducting comprehensive reviews and evaluations of board, executives and governance practices to identify areas for improvement and ensure compliance with best practices and regulations.

Regulatory Compliance

Helping organizations comply with relevant laws and regulations, including corporate governance codes, securities laws, and listing requirements.

Ethics and Compliance Programs

Designing and implementing ethics and compliance programs to promote ethical behavior and prevent misconduct.

Stakeholder Engagement

Assisting with the development of strategies for engaging with stakeholders, including shareholders, employees, customers, and the community.

Training and Development

Offering training programs for board members, executives, and employees on governance best practices, regulatory requirements, and ethical behavior.

Investor Relations

Assisting with the development of investor relations strategies and communication plans to enhance transparency and build trust with investors.

Mergers and Acquisitions (M&A) Support

Providing governance-related advice and support during mergers, acquisitions, and other corporate transactions.

Digital Governance

Advising on the governance of digital transformation initiatives, including data governance, cybersecurity, and technology risk management.

05. Corporate Secretarial Services

Our Corporate Secretarial services encompass a variety of corporate, legal and administrative functions essential for maintaining good corporate governance and ensuring that a company meets its legal obligations. Key services offered in corporate secretarial services include:

Company Formation Advisory and Support

Contract Development

Board and Shareholder meetings management

including preparation of agendas, circulating notices, drafting minutes, and ensuring compliance with legal requirements.

Statutory Compliance

Ensuring timely and accurate filing of statutory returns and documents with regulatory authorities

Maintenance of Statutory Registers and Records

Keeping and updating statutory registers, including registers of members, directors, secretaries, and charges.

Shareholder Services e.g. communications and records, issuance and transfer of shares, dividend distribution, and maintenance of the share register.

Regulatory Compliance and Monitoring

Monitoring changes in relevant laws and regulations and advising the company on necessary actions to remain compliant.

Corporate Restructuring

Corporate Secretarial services for mergers, acquisitions, and disposals, including due diligence and regulatory compliance.

Directors’ Duties and Responsibilities

including support in discharge of their legal duties and responsibilities and ensuring compliance with governance standards.

Annual General Meetings

(AGMs) and Extraordinary General Meetings (EGMs) support, ensuring proper documentation and compliance with legal requirements.

Document Management

Safekeeping and managing corporate documents and records, including ensuring secure storage and easy retrieval.

Liaison with Regulatory Authorities ensuring smooth communication and timely resolution of issues.

Request for Proposal

Leadership

Lorem Ipsum

Designation – Company Name

Dubai, UAE

Request for Proposal

Latest Publications

View All

Tax Bites Edition 2 of 2024

The Federal Tax Authority (FTA) has issued a guide in December 2023 explaining the impacts of Corporate Tax Registration requirements for a natural person.

Assurance Bites Edition 01 of 2024

The ISA for LCE is a standalone global auditing standard designed specifically for smaller and less complex businesses.

Accounting Bites Edition 1 of 2024

Why was IFRS 18 “Presentation and Disclosure in Financial Statements” issued in the first place when we already had IAS 1 Presentation of Financial Statements?

Achieving tax-residency of UAE with the help of Double Tax Treaties

A tiebreaker clause is a provision in a DoubleTaxTreaty (DTT)