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Podcast 10 Leaves

A boutique consultancy in the DIFC and the ADGM.

6 AOÛT

DFSA releases CP-160 - an update to the Client Assets Regime

The proposals in this paper are intended to provide more clarity on what the DFSA requires from: (i) Authorised Firms that fall within the scope of the Client Assets regime; and (ii) Registered Auditors that prepare Client Asset Auditor’s Reports.

3 min
22 JUIL.

FSRA Fee changes - 2024

The Financial Services Regulatory Authority ("FSRA") released a Consultation Paper in late 2023, and invited feedback from the general public regarding suggested changes, which would mainly affect the General Rulebook ("GEN") and the Fees Rules ("FEES"). This was after a fee benchmarking exercise against other financial centres. The approved changes came into effect on the 1st of January 2024, and are in full effect.

4 min
20 JUIL.

ADGM reduces its fees from 2025

The Riffle Starting Jan 2025, ADGM Registration Authority will charge lesser fees for approvals and licenses of non-financial and retail business, and a slight increase for financial companies.

2 min
19 JUIL.

SEO Letter - DFSA Collective Investment Rules Reporting Requirements

Today, we’re going to talk about the key reporting requirements that Fund Managers need to be aware of, the consequences of non-compliance, and why it’s crucial to adhere to these guidelines.

3 min
18 JUIL.

DFSA Notice of Amendments to Legislation - July 24

Primary Audience – Crowdfunding Platforms and Credit Fund Managers The DFSA has made amendments to legislation, effective from August 1, 2024.

5 min
15 JUIL.

All about the DIFC Active Enterprises

The older DIFC Prescribed Regulations had provisions wherein Prescribed Companies could avail office space and hire employees. There were also some other offerings such as a technology holding company, that fell in between PCs and Commercial Holding companies. The DIFC has now streamlined their offerings by issuing new Prescribed Companies Regulations, that make PCs pure passive vehicles. The new DIFC Prescribed Company Regulations addresses a significant gap in the offerings from the center, where there was no product comparable to the Special Purpose Vehicle regimes that existed in many comparable jurisdictions. The earlier PC regime required a Qualifying Applicant or a Qualifying Purpose, both of which tied in the product to existing DIFC clients. Under the new regime, Prescribed Companies can be established by qualifying applicants (GCC Persons, DIFC Persons etc.), for a qualifying purpose (aviation, maritime, IP, crowdfunding and structured finance), to hold GCC-registrable assets, or, in case none of these apply, through a DIFC Corporate Service Provider so as to provide the required substance. In essence, this brings a new level of flexibility to the offering – for instance, you can now form a PC if you are from India, to hold an asset in Africa, by appointing a CSP at the DIFC. Since the Prescribed Company cannot have employees, the DIFC has spun off the Qualifying Applicant bit into a different product called Active Enterprises. One can set up Holding Companies, Proprietary Investment Companies and Managing Offices as an Active Enterprise, with visa options, provided that one has a tie-in to the center already.

18 min
15 JUIL.

All about the new DIFC Prescribed Companies Regulations

The new DIFC Prescribed Company Regulations addresses a significant gap in the offerings from the center, where there was no product comparable to the Special Purpose Vehicle regimes that existed in many comparable jurisdictions. The earlier PC regime required a Qualifying Applicant or a Qualifying Purpose, both of which tied in the product to existing DIFC clients. Under the new regime, Prescribed Companies can be established by qualifying applicants (GCC Persons, DIFC Persons etc.), for a qualifying purpose (aviation, maritime, IP, crowdfunding and structured finance), to hold GCC-registrable assets, or, in case none of these apply, through a DIFC Corporate Service Provider so as to provide the required substance. In essence, this brings a new level of flexibility to the offering – for instance, you can now form a PC if you are from India, to hold an asset in Africa, by appointing a CSP at the DIFC. Also, since the Prescribed Company cannot have employees, the DIFC has spun off the Qualifying Applicant bit into a different product called Active Enterprises. One can set up Holding Companies, Proprietary Investment Companies and Managing Offices as an Active Enterprise, with visa options, provided that one has a tie-in to the center already.

17 min
3 JUIL.

Setting up a Representative Office in the DIFC

The financial services industry is growing at a rapid pace in the MENA region. The Dubai International Financial Centre, or DIFC, is at the forefront of this change. Ranked among the top 10 onshore financial centres worldwide, the DIFC is arguably the place to be for financial service companies looking at targeting not just the UAE, but the whole MENA region. Setting up a representative office in DIFC is one of the ways of testing the waters, before deciding on taking on a full-fledged license. And so our topic today, ladies and gentlemen, is all about DIFC Representative Offices.

18 min
26 JUIN

Dear SEO - DFSA Thematic Review on Firm Disclosures

Today we have a look at the key findings from the 2023-2024 Thematic Review conducted by the Dubai Financial Services Authority, or DFSA. This review focuses on firm disclosures and their compliance with financial promotions rules. The DFSA undertook this Thematic Review to evaluate how well Authorised Firms adhere to financial promotion rules, accurately represent their regulatory status, and distinguish responsibilities between group entities. This review also aimed to identify both good and poor practices among firms.

7 min
26 JUIN

DFSA SEO Letters - Private Banking Businesses

This podcast is the second of a series that specifically addresses the DFSA Seo Letters that are published from time to time. Today, we have a detailed look into the SEO Letter related to DFSA’s Assessment of Private Banking Business Models.

10 min
4 JUIN

DFSA SEO Letters - Brokerage

This podcast is the first of a series that specifically addresses the DFSA Seo Letters that are published from time to time. Today, we have a detailed look into the SEO Letter related to Brokerage Business Models. The DFSA conducted risk assessments on brokerage firms to evaluate compliance with regulatory obligations in General (GEN), Conduct of Business (COB), and Anti-Money Laundering (AML) modules. Here are some key findings.

10 min
4 JUIN

DIFC Advisory and Arranger License

Today, let's discuss the advisory and arranger license from the DIFC. Popularly known as the Category 4 Advisory license, this is the entry point for aspiring firms to start offering financial services from the centre. DIFC is one of the world’s top ten onshore financial centers and offers a secure and efficient platform for businesses and financial institutions to reach into and out of the emerging markets of the region. The quality and independence of DIFC’s regulator, the prevailing common law framework, excellent infrastructure and tax efficiencies make it the perfect base to take advantage of the rapidly growing demand for financial and business services in the MENASA region. DIFC fills the time-zone gap for a global financial centre between the leading financial centres of London and New York in the West and Hong Kong and Tokyo in the East. You can also read all about it here.

15 min

12 épisodes

A boutique consultancy in the DIFC and the ADGM.

Création

10 Leaves
Années d’activité

2021 - 2024
Épisodes

12
Classification

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