The Dubai Financial Services Authority (DFSA) has issued a Hedge Fund Code of Practice for hedge funds operating in Dubai. First of its kind to be issued by a regulator, the Code sets out best practice standards for hedge fund operators in the Dubai International Financial Centre (DIFC). The Code addresses some specific risks that are associated with hedge funds and reflects the DFSA's commitment to risk-based regulation. It consists of nine high-level principles, which cover areas of key operational, management and market-related risks, particularly in the areas such as valuation of assets, back office functions and exposure to market risks.


David Knott, Chief Executive of the DFSA, says, 'While there are a number of industry-based Hedge Fund Codes, the DFSA's Code is the first of its kind to be issued by a regulator. Having received highly positive feedback throughout the consultation period, we are confident that the Code will provide investors and Hedge Fund Managers with a backdrop for the successful development of Hedge Funds in the DIFC by ensuring the industry has the necessary regulations in place to prosper. This initiative reflects our commitment to the continued development of the DIFC as an attractive and well-regulated environment for Hedge Fund Operators and prospective investors.'

 

 

We don’t have a traditional strategy process, planning process like you’d find in traditional technical companies. It allows Google to innovate very, very quickly, which I think is a real strength of the company.