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Feb 25 2019 onwards

FPR 1.2 Guidance



Whole Section PDF

The definitive version of DFSA handbook text is the PDF version as that is the text of the instrument as made and published by the DFSA.

To view past versions of this module in PDF format, please visit the Archive.

1. The three UAEG securities regulators: the SCAG , the DFSAG and the FSRAG have agreed a "Protocol" regarding co-ordinated supervision of the marketing and selling of units of domestic funds within the UAEG (State). The "Protocol" introduces a notification and registration process to enhance the monitoring and supervision of the financial services associated with the marketing and sale of units in domestic funds. The ProtocolG sets out a common regulatory framework which is to be implemented by each of the regulators. The ProtocolG is implemented in the DFSAG RulebookG primarily through this module (FPR).
2. FPR specifies procedures and requirements that apply in relation to a Passported FundG where the DFSAG is either the Home RegulatorG or the Host RegulatorG of the Fund.
3. FPR is applicable to Fund ManagersG of Domestic FundsG (as that term is defined in FPR Rule 1.3.1) but also to other Authorised FirmsG that propose to carry on, or are carrying on, the marketing and selling of the UnitsG of such FundsG from the DIFCG to potential investors and ClientsG situated in the ADGMG or the StateG , outside the DIFCG . It will also be relevant to Fund ManagersG , their AgentsG and any other Licensed PersonsG domiciled outside the DIFCG that propose to carry on the marketing and selling of the UnitsG of Domestic FundsG to potential investors and ClientsG situated in the DIFCG . However, where a Fund ManagerG or any other Authorised FirmG only carries on Financial ServicesG involving the Units of Domestic FundsG with or for potential investors and ClientsG situated within the DIFCG , then the RulesG in FPRG will not be relevant.
4. Provided the Fund ManagerG has notified the DFSAG and complies with other requirements of the Fund Protocol RulesG , the manager may market and sell the UnitsG in their Domestic FundsG , or continue to do so, to potential investors and ClientsG situated in the DIFCG or in the StateG outside the DIFCG without the need for further authorisation or approval by any authority. Authorised firms other than the Fund ManagerG may also carry out such activities if the FundG has been registered under the Fund Protocol RulesG .
Derived from RMI233/2019 (Made 20th February 2019). [VER1/02-19]