Our SCA Focus Series will provide detailed guidance on the investment business regulations of the Securities and Commodities Authority ("SCA") of the UAE, including detailed information on the various application processes.
The first issue in the series discusses the procedure to be followed in order to market and distribute mutual funds and other similar structures in the UAE.
In this briefing note, you will find guidance to the questions we are asked most frequently and, as most potential investors will be located 'onshore', we will concentrate on the requirements that apply 'onshore' rather than within the financial free zones of the Dubai International Financial Centre (“DIFC”) and the Abu Dhabi Global Market (“ADGM”).
This download includes guidance on the following questions:
- I am a fund manager established in the EU and I am looking to market my funds in the UAE. Do I need to obtain regulatory approval for my funds?
- What exactly is reverse solicitation? Do I have to provide evidence of investor approach?
- Can I promote my funds to regulated financial services businesses in the UAE without first having the funds registered with the SCA?
- If I get my funds registered with the SCA will I need any more licences to be able to promote my funds freely in the UAE?
- I am a Fund Manager regulated by the Dubai Financial Services Authority (“DFSA”) and my funds are registered in the DIFC. Do I also need to register my funds with the SCA and obtain a licence under the PIRs in order to market my funds ‘onshore’?