The Dubai Financial Services Authority (DFSA) has issued its draft Hedge Fund Code for public comment.
Ian Johnston, managing director, policy and legal services at the DFSA, said: “We thought it appropriate to develop best practice standards under high level principles, rather than detailed rules. We selected 9 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.”
The consultation paper is on the DFSA website www.dfsa.ae. The consultation period closes on October 4 and the DFSA hopes to introduce the code in the first quarter of 2008.
No preferred charging model
To 1,552 families and businesses
HL and Liberty SIPP slowest
Lifetime and annual allowances