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ENFORCEMENT PARTNERING WITH PEER

REGULATORS:
Enforcement plays a fundamental role in continuing to ensure the
Regulatory Authority is an effective regulator. Enforcement supports
the Regulatory Authority’s objectives by delivering proportionate Unlicensed insurance intermediaries
and significant outcomes which protect and enhance the integrity
of the Qatar Financial Centre regulatory environment. The Enforcement department maintains an overarching review of
the activities of unlicensed insurance intermediaries providing finan-
Enforcement’s approach is to work collaboratively with the Supervi- cial advice in the State of Qatar. The department is diligent in its
sion departments to identify issues to certain sectors of the regulated support of the objectives of the Strategic Plan for Financial Sector
community or particular firms which are, or may become, of con- Regulation to address the regulatory gaps that allow unlicensed
cern in the future. The aim is to detect potential misconduct early intermediaries to operate. With a close working relationship with
and provide Enforcement with the opportunity to engage with firms other Qatari regulators, Enforcement is working to enhance the
to consider reviews of processes, training and governance as a regulatory safeguards to tackle this issue.
basis for reaching a settled or negotiated outcome.
Where that is not possible and enforcement action is envisaged,
the Enforcement department adopts a clear and transparent pro-
cess as set out in the Enforcement Policy Statement.