Entire Section

  • FPR 8 FPR 8 De-Registration of Passported Funds

    • FPR 8.1 FPR 8.1 De-registration by the DFSA

      • FPR 8.1.1

        This section applies if the DFSA is the Home Regulator of a Passported Fund

        Derived from RMI233/2019 (Made 20th February 2019). [VER1/02-19]

      • FPR 8.1.2

        The DFSA may de-register a Passported Fund:

        (a) on its own initiative if either the Passported Fund or the Fund Manager is not complying, or is likely not to comply, with any applicable legislation, including these Rules, or in accordance with FPR Rules 3.1.10 or 3.2.10;
        (b) at the written request of the Fund Manager;
        (c) upon the commencement of the winding-up of the Passported Fund; or
        (d) in respect of a specific Host Jurisdiction, at the request of the Host Regulator.
        Derived from RMI233/2019 (Made 20th February 2019). [VER1/02-19]

      • FPR 8.1.3

        The DFSA will promptly update its Register of Passported Funds to reflect any de-registration.

        Derived from RMI233/2019 (Made 20th February 2019). [VER1/02-19]

      • FPR 8.1.4

        Any removal of a Passported Fund from the DFSA's Register of Passported Funds by the DFSA will be promptly notified to the Fund Manager and each relevant Host Regulator.

        Derived from RMI233/2019 (Made 20th February 2019). [VER1/02-19]

      • FPR 8.1.5

        The Fund Manager, its Agents and any other Licensed Person must immediately cease all Promotion of the relevant Passported Fund in a Host Jurisdiction in accordance with these Rules upon the earlier of its removal from the Host Jurisdiction's Register of Passported Funds or the Register of Passported Funds maintained by the DFSA.

        Derived from RMI233/2019 (Made 20th February 2019). [VER1/02-19]

      • FPR 8.1.6

        (1) The procedures in Schedule 3 to the Regulatory Law apply to a decision of the DFSA to de-register a Passported Fund under this section.
        (2) If the DFSA decides to de-register a Passported Fund, the Fund Manager of that Passported Fund may refer the matter to the Financial Markets Tribunal for review.
        Derived from RMI233/2019 (Made 20th February 2019). [VER1/02-19]

    • FPR 8.2 FPR 8.2 Notification of de-registration by Home Regulator to the DFSA

      • FPR 8.2.1

        This section applies if the DFSA is the Host Regulator of a Passported Fund.

        Derived from RMI233/2019 (Made 20th February 2019). [VER1/02-19]

      • FPR 8.2.2

        If a Home Regulator informs the DFSA that a Passported Fund has been deregistered and removed from the Register of Passported Funds maintained by that Home Regulator, the DFSA will promptly update the Register of Passported Funds maintained by it to reflect such de-registration.

        Derived from RMI233/2019 (Made 20th February 2019). [VER1/02-19]

      • FPR 8.2.3

        All Promotion of the Passported Fund in the DIFC under these Rules must immediately cease upon its removal from the earlier of the relevant Home Jurisdiction's Register of Passported Funds or the Register of Passported Funds maintained by the DFSA.

        Derived from RMI233/2019 (Made 20th February 2019). [VER1/02-19]