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DIFC Cat 3C Asset Manager License
This episode is also available as a blog post: https://10leaves.ae/publications/difc/guide-to-the-difc-asset-manager-license
Firms engaging in the activity of ‘Asset Management’, can apply to the DFSA for a Cat 3C License. Asset management, in this context, means managing client portfolios on a discretionary basis, under a client mandate.
Firms interested in managing client assets from the DIFC are required to submit applications to the Dubai Financial Services Authority, or DFSA.
Asset Management activities are discretionary in nature, and can include:
Managing Assets
Managing Assets means managing on a discretionary basis assets belonging to another Person if the assets include any Investment or rights under a contract of Long-Term Insurance, not being a contract of reinsurance.
Arranging Deals in Investments
Arranging Deals in Investments means making arrangements with a view to another Person buying, selling, subscribing for or underwriting an Investment (whether that other Person is acting as principal or agent).
Advising on Financial Products
Advising on Financial Products means giving advice to a Person in his capacity as an investor or potential investor, or in his capacity as agent for an investor or a potential investor, on the merits of his buying, selling, holding, subscribing for or underwriting a particular financial product (whether as principal or agent).
Arranging Credit and Advising on Credit
Arranging Credit and Advising on Credit means:
(a) making arrangements for another Person, whether as principal or agent, to borrow money by way of a Credit Facility; or
(b) giving advice to a Person in his capacity as a borrower or potential borrower or as agent for a borrower or potential borrower on the merits of his entering into a particular Credit Facility.
The DFSA has a fast-track process for Fund Manager licenses, which also come under Category 3C. The Fund Manager, if approved, can manage domestic (DIFC Public, DIFC Exempt Fund and DIFC Qualified Investor Fund) and Foreign Funds in other jurisdictions as well. In case the firm wishes to also engage in discretionary portfolio management services, it has to go through a full-fledged license process.
Firms that wish to engage in non-discretionary investment advice, can opt for a DIFC Investment Advisory License instead. You can read more details here.
View all episodes
By 10 LeavesThis episode is also available as a blog post: https://10leaves.ae/publications/difc/guide-to-the-difc-asset-manager-license
Firms engaging in the activity of ‘Asset Management’, can apply to the DFSA for a Cat 3C License. Asset management, in this context, means managing client portfolios on a discretionary basis, under a client mandate.
Firms interested in managing client assets from the DIFC are required to submit applications to the Dubai Financial Services Authority, or DFSA.
Asset Management activities are discretionary in nature, and can include:
Managing Assets
Managing Assets means managing on a discretionary basis assets belonging to another Person if the assets include any Investment or rights under a contract of Long-Term Insurance, not being a contract of reinsurance.
Arranging Deals in Investments
Arranging Deals in Investments means making arrangements with a view to another Person buying, selling, subscribing for or underwriting an Investment (whether that other Person is acting as principal or agent).
Advising on Financial Products
Advising on Financial Products means giving advice to a Person in his capacity as an investor or potential investor, or in his capacity as agent for an investor or a potential investor, on the merits of his buying, selling, holding, subscribing for or underwriting a particular financial product (whether as principal or agent).
Arranging Credit and Advising on Credit
Arranging Credit and Advising on Credit means:
(a) making arrangements for another Person, whether as principal or agent, to borrow money by way of a Credit Facility; or
(b) giving advice to a Person in his capacity as a borrower or potential borrower or as agent for a borrower or potential borrower on the merits of his entering into a particular Credit Facility.
The DFSA has a fast-track process for Fund Manager licenses, which also come under Category 3C. The Fund Manager, if approved, can manage domestic (DIFC Public, DIFC Exempt Fund and DIFC Qualified Investor Fund) and Foreign Funds in other jurisdictions as well. In case the firm wishes to also engage in discretionary portfolio management services, it has to go through a full-fledged license process.
Firms that wish to engage in non-discretionary investment advice, can opt for a DIFC Investment Advisory License instead. You can read more details here.