New Emirates regs threaten QROPS

clock

Regulations currently under consultation in the United Arab Emirates (UAE) may pose a threat to the legitimacy of QROPS being used by expats in the region, an expert has warned.

The Emirates Security and Commodities Authority is currently drafting new rules with proposals restricting the promotion of funds in the jurisdiction without UAE central bank approval. Paul Evans, managing director of SIPP administrator Brooklands Pensions, said providers are currently skirting this restriction using QROPS which may lead to a backlash. Evans said by restricting the fund choices within some QROPS to a few select products, providers are actually promoting those investments without central bank approval. "If regulators realise that QROPS are being used in this way to ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •