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New UAE investment fund rules may hit DIFC firms – analysts

Analysts have said new investment fund rules introduced by the UAE's Securities and Commodities Authority (SCA) could hurt the country's ambitions to become a more important financial centre, Reuters has reported. The rules, which will apply to firms based in the Dubai International Financial Centre (DIFC), include minimum capital requirements for new domestic funds and guidelines on promoting and offering foreign funds in the UAE. "This is a tougher regime than before. There is probably going to be a period of time when the industry will say the regulations are slowing down the product pipeline and they can only move at the speed of approvals given out by the SCA," said law firm Clifford Chance.