DFSA, SFC highlight opportunities on distributing HK funds in DIFC – Gulf Today

DFSA, SFC highlight opportunities on distributing HK funds in DIFC – Gulf Today

A grand view of the Dubai International Financial Centre, a key hub for global investors.

Gulf Today, Staff Reporter

The Dubai Financial Services Authority (DFSA) and the Securities and Futures Commission (SFC) co-hosted a high-level roundtable on opportunities for Hong Kong asset managers to distribute funds in the Dubai International Financial Centre (DIFC).

More than 15 top executives of Hong Kong asset managers attended the roundtable discussion presided over by the DFSA’s Chief Executive Ian Johnston and the SFC’s Chief Executive Officer Julia Leung. During the joint session, Johnston introduced the regulatory requirements for offering Hong Kong-domiciled funds in the DIFC, and prospects in DIFC for Hong Kong asset managers, including access to investors in the UAE market through the UAE fund passporting regime.

Also present at the event were the SFC’s Executive Director of Investment Products, Christina Choi, and DFSA’s Associate Director of Conduct, Supervision, David Tait, who elaborated on relevant regulatory requirements at a subsequent seminar.

Ian Johnston, Chief Executive of the DFSA, said: “It has been a pleasure to co-host this roundtable with the SFC in Hong Kong. With the expansion of the China-Middle East corridor, we see an opportunity for greater cooperation between DIFC and Hong Kong, particularly