Entire Section

  • Chapter 5 — Chapter 5 — AFN CIR Forms

    • AFN CIR Notification of the marketing and selling of Funds

      Click hereClick here to download the specific AFN form above, press "Read only" and then enter details where the form permits you to.

    • Deleted Forms

      • AFN CIR F1 [Deleted]

        (* and the Trustee, in the case of an Investment Trust)

        Set out here are the preliminary notes relating to the form, click here click here to download the specific AFN form above, press "Read only" and then enter details where the form permits you to.

        Purpose of this form

        This purpose of this form is for an Operator of a Collective Investment Fund to register a Domestic Fund with the DFSA as required under the CIR Module of the DFSA Rulebook. It must be submitted by the proposed Operator of the Domestic Fund, and may be submitted on the basis that the proposed Operator is:

        •  An applicant to be an Authorised Firm, whose application includes the proposed Financial Service of Operating a Collective Investment Fund (in which case, Form AUT–CORE and Form AUT–INV must also be submitted);
        •   An existing Authorised Firm that is authorised to Operate a Collective Investment Fund in respect of one or more Funds, and wishes to register a new Fund; or
        •   An existing Authorised Firm that is not authorised to Operate a Collective Investment Fund but who has submitted a Form SUP4 to amend the scope of its Licence to include Operating a Collective Investment Fund.

        Only a Domestic Fund that is a Public Fund can be registered with the DFSA. A Public Fund, under Article 46 of the Collective Investment Law 2006, is one that "...has or intends to have more than 100 Unitholders; or its Units are, or are to be, offered by means of public offering to potential participants". Under Article 54 of the Collective Investment Law 2006, a Domestic Fund "…that is not a Public Fund" is a Private Fund. The Operator of a Private Fund must, amongst other things, separately notify the DFSA 14 days prior to the initial issue or offer of Units in the Private Fund. The CIR Module sets out the contents of such a notification.

        A Fund will only be registered where the Authorised Firm and the Fund meet the criteria set out in the CIR Module with respect to a Domestic Fund. The Firm (as the Operator) must be, and continue to be, fit and proper with respect to its activities, and have the requisite skills, experience, resources and controls in order to Operate a Collective Investment Fund of the nature and type proposed.

        The DFSA may require additional information or clarification in order to complete the processing of an application. In this respect, the DFSA will correspond with the applicant's contact person, as detailed in Form AUT–CORE. If the proposed Operator is an existing Authorised Firm, please indicate below the relevant contact details for the purposes of this application.

        Applicant's contact person for this application  
        Position/title  
        Correspondence address

         
        Telephone / fax number:  
        E-mail address  

        Notes for completing this form

        •  This form should only be completed by a firm wishing to Operate a Collective Investment Fund which is a Public Fund. Firms wishing to Operate a Collective Investment Fund which is a Private Fund should not complete this form, and instead complete questions 3.23 to 3.48 of Form AUT–INV.
        •  In the case of a Public Fund which is an Investment Trust, this form must also be signed by the proposed trustee of the fund, who must be an Authorised Firm, or an applicant to be an Authorised Firm, for the purpose of carrying on the Financial Service of Acting as the Trustee of a Fund.
        •  The term Fund in this form refers to the entity for which an Operator is seeking registration as a Public Fund. In order to be a Public Fund, the Fund must be incorporated or established in the DIFC, i.e. a Domestic Fund. Questions in this form are directed at the Fund as the subject of this application, and at the Operator, in respect of its role in relation to the Fund, and answers should therefore be given in the context of the specific question.
        •  Only a Domestic Fund may be Operated by an Authorised Firm. Marketing of a Foreign Fund in the DIFC may only be undertaken by an Authorised Firm in accordance with the requirements of the CIR Module of the DFSA's Rulebook.
        •  Defined terms are identified throughout this application form by the capitalisation of the initial letter of a word or phrase and are defined in the Glossary module (GLO) of the DFSA's Rulebook.
        •  All financial information must be given in US dollars, together with a statement of the original currency used (if relevant) and the exchange rate applied for conversion.
        •  Questions must be answered fully and the use of abbreviations or acronyms should be avoided or defined.
        •  Do not leave any questions blank. If a question is not applicable this should be indicated in the response section. Failure to answer questions or provide full responses may delay the progress of the application.
        •  Answers must be typed in electronic format and the form must be signed by a Director/Partner of the Applicant or, in the event that, for example, the applicant has yet to be incorporated, the Director or Partner who will be authorised in due course to sign on behalf of the applicant.

        Contents

        Section Title
        1 General Information
        2 Specialist Fund Information
        3 Additional questions in relation to the Trustee (if applicable)
        4 Payment of Fees
        5 Declaration
        6 Checklist of Attachments

      • AFN CIR F2 [Deleted]

        Set out here are the preliminary notes relating to the form, click here click here to download the specific AFN form above, press "Read only" and then enter details where the form permits you to.

        Purpose of this form

        The purpose of this form is to facilitate the notification requirement in CIR Rule 18.2.1 of the DFSA's Rulebook pursuant to Article 56 of the Collective Investments Law.

        Article 56 of the Collective Investment Law 2006 requires the Operator of a Private Fund to notify the DFSA at least 14 days prior to the initial, and if a closed-ended Fund any subsequent, issue or offer of Units in the Fund.

        Additional information is also required concerning certain prime broker arrangements set out under CIR Rule 18.2.1(b) where the Private Fund is also a Hedge Fund.

        Do not use this form in respect of a Public Fund, which instead requires an application for registration of the Fund with the DFSA by submission of Form AFN CIR F1—Registration of a Public Fund.

        On receipt of this form (CIR F2), the DFSA may, as appropriate, request a copy of the Prospectus of the Private Fund or any other information to provide further clarification.

        Applicant's contact person for this notification  
        Position/title  
        Correspondence address  
        Telephone / fax number:  
        E-mail address  

        Notes for completing this form

        •   This form should be completed by the Operator of the Private Fund to which this notification relates, and submitted to the DFSA at least 14 days prior to the initial offer of Units in the Private Fund (or subsequent issue or offer in respect of a closed-ended Fund).
        •   The form should be submitted for the attention of the Operator's normal supervisory contact at the DFSA, to the address given at the back of the form.
        •   Defined terms are identified throughout this application form by the capitalisation of the initial letter of a word or phrase and are defined in the Glossary module (GLO) of the DFSA's Rulebook.
        •   All financial information must be given in US dollars, together with a statement of the original currency used (if relevant) and the exchange rate applied for conversion.
        •   Questions must be answered fully and the use of abbreviations or acronyms should be avoided or defined.
        •   Do not leave any questions blank. If a question is not applicable this should be indicated in the response section.
        •   Answers must be typed in electronic format and the form must be signed by the Compliance Officer, Senior Executive Officer, or a Director/Partner of the Authorised Firm that is operating Private Fund.

        Contents

        Section Title
        1 Operator information
        2 Private Fund information
        3 Payment of Fees
        4 Declaration
        5 Attachments

      • AFN CIR F3 [Deleted]

        Set out here are the preliminary notes relating to the form, click hereclick here to download the specific AFN form above, press "Read only" and then enter details where the form permits you to.

        Purpose of this form

        The purpose of this form is to assist an Authorised Firm with its reporting requirements in the Collective Investment Rules of the DFSA Rulebook in relation to the marketing and selling of Foreign Funds and Domestic Funds.

        The form consists of four sections:

        1. Authorised Firm information
        2. Marketing and selling of Foreign Funds
        3. Marketing and selling of Domestic Funds
        4. Declaration

        All firms must complete sections 1 and 4, together with section 2 and 3 as applicable, or both, if this is the case.

        On receipt of this form, the DFSA may, as appropriate, request any other information to provide further clarification.

        Notes for completing this form

        •   Defined terms are identified throughout this application form by the capitalisation of the initial letter of a word or phrase and are defined in the Glossary module (GLO) of the DFSA's Rulebook.
        •   Questions must be answered fully and the use of abbreviations or acronyms should be avoided or defined.
        •   Do not leave any questions blank. If a question is not applicable this should be indicated in the response section.
        •   Answers must be typed in electronic format and the form must be signed by the Compliance Officer, Senior Executive Officer, or a Licensed Director/Partner of the Authorised Firm, or an individual designated by one of these persons for the purpose of completing this form.
        Applicant's contact person for this notification  
        Position/title  
        Correspondence address  
        Telephone / fax number:  
        E-mail address