The United Arab Emirates has postponed a final draft ruling on new guidelines to regulate its nascent asset management industry after concerns were raised by industry players, two sources familiar with the matter said on Sunday.
UAE market regulator Securities and Commodities Authority (SCA) issued an initial draft for regulating investment funds earlier in the year and a final circular was expected by mid-July after consultations with market participants.
But the regulator has now delayed the process with one industry source saying it may get pushed to next year. Another asset management source said the final draft has been postponed to September.
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