New Qualified Investor Definition
01 Dec 2019
The United Arab Emirates Securities and Commodities Authority (SCA) has issued a decision (No. 37 (R.M) of 2019), effective 1 December 2019, amending the definition of "Qualified Investor" in all regulations issued by the SCA. The definition now additionally includes the following:
- Foreign governments and their entities, institutions, and authorities or companies wholly owned by any of them.
- UAE corporate entities meeting certain financial requirements (previously, the Qualified Investor criteria for UAE corporate entities was an investment-related business activity. This change means that investment companies have to meet the financial requirements set out below in order to be a Qualified Investor).
- Individuals accredited by the SCA or Similar Regulator (a supervisory authority), which is an ordinary member or an associated member in the International Organization of Securities Commissions (IOSCO), including the UK Financial Conduct Authority and the US Securities and Exchange Commission) to perform functions related to financial activities or services.
-
Type:
-
Entry and establishment (Ownership and control)
-
Industry:
-
Services (Financial and insurance activities)
-
Sources:
