Over the period of nearly two years the Dubai Financial Services Authority (DFSA), being the regulatory authority of the Dubai International Financial Centre (DIFC), has undertaken an extensive internal and external consultation process in relation to proposed changes to the DIFC Markets Law (issued in 2004), Offered Securities Rules and associated rules and regulations.  The main aim of such a process was to bring the DFSA’s capital markets laws, rules and regulations into closer alignment with the European Union’s Prospectus Directive (2003/71/EC) and Market Abuse Directive (2003/6/EC) and various capital market standards adopted by the Organisation for Economic Co-operation and Development.