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The U.A.E. Securities and Commodities Authority (the “SCA”) has introduced new rules that relate to domestic and foreign investment funds established or marketed in the U.A.E.
The rules transfer regulatory responsibility for the licensing and marketing of investment funds from the UAE Central Bank to the SCA. These rules will be of particular interest to investors located in the U.A.E, as well as foreign investment funds that market in the U.A.E. including those who use the Dubai International Financial Centre as a gateway to the U.A.E. market. In this brief alert, we focus on what the new rules mean for managers and promoters marketing foreign funds in the U.A.E.
Please note this alert is based solely on an informal and unofficial translation of the rules.
To continue reading full articles in PDF format:
Foreign Investment Funds in the U.A.E.: The New Rules