The Dubai Financial Services Authority (DFSA) has issued its draft Hedge Fund Code for public comment.
The consultation paper seeks comment on the DFSA’s proposals to introduce best practice standards for the hedge fund industry. 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 pract...
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