Dubai Releases Draft Hedge Fund Code

Jul 5 2007 | 10:28am ET

The Dubai Financial Services Authority, which regulates all banking and asset management at the Dubai International Financial Center, on Tuesday issued a draft hedge fund code and is seeking public comment.

The proposed code is more in line with the British principles-based approach to financial regulation than it is with the U.S. rules-based approach.

“We thought it appropriate to develop best practice standards under high level principles, rather than detailed rules,” said Ian Johnston, managing director of policy and legal services at the DFSA. “We selected nine areas of risk which are more specific to hedge fund operations than to other types of collective investment funds. This approach is consistent with the DFSA's risk-based approach to regulation and gives the industry the flexibility to develop their own practices within the framework set by the principles.”

Comments on the code are due Oct. 4. Subject to any changes resulting from public consultation, the DFSA hopes to introduce the code in the first quarter of 2008.

Original Documents:


In Depth

The Importance of Stability in the Evolving Hedge Fund Administration Market

Oct 5 2015 | 8:17pm ET

Hedge fund administration has evolved from simple record keeping to an integral,...


Citadel Supports Manhattan Real Estate With Record Deal

Sep 16 2015 | 3:04pm ET

Never count hedge funds out of a big property deal. The Manhattan real estate market...

Guest Contributor

Hedge Fund Marketing To Independent RIA Firms

Sep 30 2015 | 1:56pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth Inc. explains...


Editor's Note

Upcoming Events