UAE investment funds regulation: funds industry welcomes changes

When the United Arab Emirates (UAE) Investment Funds Regulations (IFR) were published in July 2012, many fund managers and trust promoters were dismayed to find that a one-size-fits-all approach had been taken to the question of who is a customer to whom the IFRs should apply.

The UAE Securities and Commodities Authority (SCA) Board has now resolved to make an amendment to the IFR. This white paper discusses the issues at hand, the solution presented and its implications for those working in the funds industry.