19 October 2009 — DFSA Seeks Public Comment on Review of Funds Regime in the DIFC
Dubai, UAE, 19 October 2009: The Dubai Financial Services Authority (DFSA) released today for public comment the Report of the Market Practitioner Panel (Panel) it appointed in July 2009 to review the DIFC's Collective Investment Funds regime.
The Panel Report contains recommendations relating to 10 Key Issues. In the Panel's view, these issues need to be addressed in order to support the growth of the funds industry in the Dubai International Financial Centre (DIFC).
The key recommendations of the Panel to the DFSA include the following:
Paul M Koster, Chief Executive of the DFSA added, "We are very grateful that the group of industry experts who formed the Market Practitioner Panel was able to devise a comprehensive set of pragmatic proposals to make that regime more attractive to the funds industry, without impairing investor protection.
The DFSA looks forward to receiving the views of industry participants on the Panel's recommendations and hope to move quickly to implement changes that are appropriate and necessary to make the DIFC Funds regime more attractive for the international funds industry."
The report is posted on the DFSA website www.dfsa.ae. The deadline for comment is 5 December 2009.