The Dubai Financial Services Authority (DFSA) has issued a consultation paper (CP 158) relating to proposed amendments to its Collective Investment Rules (CIR), which includes one proposed change in relation to credit funds,...more
At a time marked by themes of “push” and “pull,” organizations across all sectors and jurisdictions are grappling with the pursuit of innovation within an increasingly complex regulatory framework. Over the next 12 months,...more
Several US regulatory agencies have proposed or enacted new rules in 2023 aimed at making the investment process more transparent. Many of those changes, including amendments to the Investment Advisers Act of 1940 by the US...more
As a continuation of our series of updates issued in collaboration with the United Arab Emirates (UAE) Securities and Commodities Authority (SCA), we set out below a summary of additional guidance on marketing of foreign...more
Given the global nature of sovereign wealth funds’ (SWFs’) investments and operations, it is essential that SWFs are aware of and in compliance with the Foreign Corrupt Practices Act (FCPA) in order to facilitate business...more
The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) issued its Private Credit Fund Rules on 4 May 2023 (the Private Credit Fund Framework), enabling ADGM funds and their fund managers to...more
In collaboration with the United Arab Emirates (UAE) Securities and Commodities Authority (SCA), we set out below a summary of the forthcoming official guidance on marketing of foreign funds in the UAE mainland and outline...more
The Emirates Securities and Commodities Authority (SCA) recently issued eight decisions which, among other things, reform the regulatory regime for investment funds domiciled in the onshore United Arab Emirates (UAE) and...more
The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) issued a consultation paper on December 12, 2022, in connection with its proposed introduction of a specific regulatory framework, the...more
The last few years have thrown many surprises at businesses. Organizations across all sectors have faced inflation, global conflicts, supply chain challenges, a pandemic, and continually changing government policies. In 2023,...more
1/23/2023
/ Automotive Industry ,
Capital Markets ,
Cryptocurrency ,
Energy Sector ,
EU ,
False Claims Act (FCA) ,
FDIC ,
Financial Services Industry ,
FinTech ,
Food and Drug Administration (FDA) ,
Life Sciences ,
Tax Credits
The Dubai Financial Services Authority (DFSA) has implemented a new regime for credit funds, which comes into force on June 1, 2022. The new regulation primarily impacts the managers of credit funds domiciled in the DIFC, but...more
The COVID-19 pandemic created many uncertainties and challenges for investors and operators alike across the Middle East, including in the United Arab Emirates, which is often considered a regional healthcare and business...more
The United Arab Emirates (UAE) Cabinet of Ministers has recently issued updated Economic Substance Regulations which repeal and replace those previously announced. These are: the Ministry of Finance Resolution No. 57 of 2020,...more
The United Arab Emirates (UAE) Securities and Commodities Authority (SCA) has issued a decision (No. 37 (R.M) of 2019), effective December 1, 2019, amending the definition of Qualified Investor in all regulations issued by...more
Entities carrying on “Relevant Activities,” including banking, insurance, and investment fund management, among others, in the United Arab Emirates will need to meet an economic substance test from April 30, 2019, and from...more
In line with its position as the leading financial hub for the Middle East and North Africa region, the Dubai International Financial Centre (DIFC) has improved the flexibility of its funds regime, which should make it more...more
Memoranda of understanding recently entered into by the Dubai Land Department with the Dubai International Finance Centre Authority and Nasdaq Dubai, respectively, aim to facilitate institutional real estate investment in...more
Exploring the rules governing marketing in the UAE of interests in foreign (non-UAE) funds, and in particular the various exemptions from the general requirement that such foreign funds be registered with the Securities and...more