{"id":98134,"date":"2024-11-21T00:00:00","date_gmt":"2024-11-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/gcc-financial-authorities-greenlight-fund-passporting-framework-for-2025\/"},"modified":"2024-11-21T00:00:00","modified_gmt":"2024-11-21T00:00:00","slug":"gcc-financial-authorities-greenlight-fund-passporting-framework-for-2025","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/gcc-financial-authorities-greenlight-fund-passporting-framework-for-2025\/","title":{"rendered":"GCC financial authorities greenlight fund passporting framework for 2025"},"content":{"rendered":"

We\u2019re one step closer to a GCC Funds Marketing Passport: <\/strong>GCC financial services authorities approved a fund passporting framework at the latest GCC Committee of Heads of Financial Market Authorities meeting, the Securities and Commodities Authority (SCA) said in a statement<\/a>. Set to be implemented in early 2025, the framework aims to boost integration between Gulf financial markets and will allow funds from one GCC jurisdiction to be marketed in others.<\/p>\n

What we know: <\/strong>The passporting regulations will simplify cross-border investment processes by streamlining the registration and promotion of investment fund units. The unified regulatory framework will also include provisions for deregistering non-compliant funds to protect unit holders' rights. The framework will mirror the EU\u2019s UCITS\/AIFMD framework. <\/p>\n

We knew this was coming:<\/strong> We first found out that the SCA and other GCC financial services regulators\u2019 have been working on drafting the GCC Funds Marketing Passport last April<\/a>. <\/p>\n

REMEMBER- The SCA recently banned banks from marketing foreign funds to retail investors: <\/strong>The UAE's financial services watchdog\u2019s rule banning onshore banks from promoting or marketing foreign funds to retail investors entered into effect in April<\/a>. The change aimed to encourage foreign fund managers to establish an onshore presence and curb capital outflows while boosting the local funds market. In April, the SCA was also in early talks with the Dubai Financial Services Authority and the ADGM to introduce a dual licensing framework for fund managers.<\/p>\n","protected":false},"excerpt":{"rendered":"

The framework is set to be implemented early next year<\/p>\n","protected":false},"author":1,"featured_media":98135,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1561],"tags":[29,7,1342,160,907],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-98134","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regulation-watch","tag-capital-markets","tag-enterpriseam-uae","tag-investment","tag-regulation-watch","tag-securities-and-commodities-authority","wpautop","entry"],"acf":{"mongo_id":"788266c2-1ffa-427b-84f2-ff51e7b19e68","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/2046.jpg","photo_position":"above","homepage_title":"","full_issue_title":"GCC financial authorities greenlight fund passporting framework for 2025","related_issue":[98122],"teaser":"The framework is set to be implemented early next year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.b034d553-818b-4773-a7bc-dbbd6a5f36b2.mp3"},"yoast_head":"\nGCC financial authorities greenlight fund passporting framework for 2025 - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/gcc-financial-authorities-greenlight-fund-passporting-framework-for-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GCC financial authorities greenlight fund passporting framework for 2025\" \/>\n<meta property=\"og:description\" content=\"The framework is set to be implemented early next year\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/gcc-financial-authorities-greenlight-fund-passporting-framework-for-2025\/\" \/>\n<meta property=\"og:site_name\" content=\"UAE\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-21T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2046.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/gcc-financial-authorities-greenlight-fund-passporting-framework-for-2025\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/gcc-financial-authorities-greenlight-fund-passporting-framework-for-2025\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"GCC financial authorities greenlight fund passporting framework for 2025\",\"datePublished\":\"2024-11-21T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/gcc-financial-authorities-greenlight-fund-passporting-framework-for-2025\/\"},\"wordCount\":245,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/gcc-financial-authorities-greenlight-fund-passporting-framework-for-2025\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2046.jpg?fit=%2C&ssl=1\",\"keywords\":[\"capital markets\",\"EnterpriseAM UAE\",\"investment\",\"REGULATION WATCH\",\"Securities and Commodities Authority\"],\"articleSection\":[\"REGULATION WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/gcc-financial-authorities-greenlight-fund-passporting-framework-for-2025\/\",\"url\":\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/gcc-financial-authorities-greenlight-fund-passporting-framework-for-2025\/\",\"name\":\"GCC financial authorities greenlight fund passporting framework for 2025 - 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