UAE's SCA closes registration to public offering of foreign funds 'until further notice' 

Mark Battersby
clock • 1 min read

The UAE's Securities and Commodities Authority has surprised the industry by suspending all renewals of foreign investment funds aimed at the public until further notice, a source with knowledge of the matter told International Investment.     The regulator cited evolving market practices and the need to review regulations for updates as its reasoning for the move, the source revealed.   While this had prompted the suspension of ‘foreign investment funds to public', the SCA is allowing any registration of private funds to continue.   In early reaction, Nigel Silitoe, CEO of consult...

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