Clifford Chance
ESCA publishes draft regulations concerning investment funds and investment management activity
18 January 2011
Proposed changes for the investment funds sector in the UAE
The UAE Securities and Commodities Authority ("ESCA") has published a Draft Decision on Investment Funds (the "Investment Funds Regulation") and a Draft Decision on Regulating Investment Management Activity (the "Investment Management Activity Regulation") for consultation (the "Consultation"). The Consultation comes at a time of considerable development in the regulation of the asset management sector in the Middle East; both the Dubai International Financial Centre ("DIFC") and the Qatar Financial Centre ("QFC") have revamped their investment fund regulatory regimes in the past year.
