Entire Section

  • Offer of Units of Foreign Funds under Article 54(1)(c) of the Law

    • CIR 15.1.9 CIR 15.1.9

      (1) An Authorised Firm may not make an Offer of a Unit of a Foreign Fund under the criteria in Article 54(1)(c) of the Law unless:
      (a) it has first satisfied itself on reasonable grounds that the Fund meets the criteria specified in Article 54(1)(c)(i), (ii) and (iii) of the Law; and
      (b) it makes the Offer in a manner that is in accordance with the criteria in Article 54(1)(c)(i) and (ii) of the Law.
      (2) An Authorised Firm that relies on (1) for Offering Units of a Foreign Fund must be able to demonstrate to the DFSA that it conducted adequate due diligence to ensure compliance with (1)(a).
      Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]
      [Amended] DFSA RM137/2014 (Made 21st August 2014). [VER17/06-14]
      [Amended] DFSA RMI308/2021 (Made 30th June 2021). [VER31/09-21]

      • CIR 15.1.9 Guidance

        Rule 15.1.9 allows an Authorised Person to make an Offer of a Unit in a Foreign Fund where the Fund and the Offer of the Unit satisfy criteria equivalent to those applicable to an Exempt Fund or Qualified Investor Fund.

        [Added] DFSA RM137/2014 (Made 21st August 2014). [VER17/06-14]