At the QFCRA, our legal objectives are:

• The promotion and maintenance of efficiency, transparency and the integrity of the QFC;
• The promotion and maintenance of confidence in the QFC of users and prospective users of the QFC;
• The maintenance of the financial stability of the QFC, including the reduction of systemic risk relating to the QFC;
• The prevention, detection and restraint of conduct which causes or may cause damage to the reputation of the QFC, through appropriate means including the imposition of fines and other sanctions;
• The provision of appropriate protection to those licensed to carry on business at the QFC and their clients or customers;
  • The financial integrity of authorised firms through appropriate financial resources requirements complemented by a robust system of internal controls;
  • The differing degrees of protection which may be appropriate for clients or customers of authorised firms as a result of their experience, expertise, business and means and the differing degree of information which it may be appropriate to give such clients or customers;
  • The differing degree of risk involved in different kinds of investment or transaction;
  • The general principle that clients or customers of authorised firms should take responsibility for their own decisions;
  • The promotion of understanding of the objectives of the QFC amongst users and prospective users of the QFC and other interested persons.

• Ensuring the QFCRA is run with a view to:
  • Operating at all times in accordance with best international standards for financial and business centres of a similar kind; 
  • Establishing and maintaining the QFC as a leading financial and business centre in the Middle East.

• Minimising the extent to which the business carried on by a person carrying on regulated activities can be used for the purposes of or in connection with financial crime.

Here are the ways we define “good regulation”:

• The need to use our resources most efficiently and economically;
• The desirability of facilitating innovation and fostering the international competitiveness of the QFC;
• The desirability of fostering competition between those who are subject to regulation by the QFCRA;
• The principle that the QFCRA should exercise its powers and functions fairly and transparently;
• The need to comply with such generally accepted principles of good governance as it is reasonable to regard as applicable to it;
• The need to balance the burdens and restrictions on firms with the benefit of regulation;
•  and the need to act in accordance with all laws and regulations to which we are subject.