• FUNDS 1. FUNDS 1. APPLICATION AND CLIENT CLASSIFICATION

    • FUNDS 1.1 FUNDS 1.1 Application

      • FUNDS 1.1.1

        These Rules apply to every Person who carries on, or intends to carry on, in or from the Abu Dhabi Global Market the Regulated Activities of:

        (a) Managing Assets;
        (b) Managing a Collective Investment Fund;
        (c) Acting as the Administrator of a Collective Investment Fund;
        (d) Providing Custody; or
        (e) Acting as Trustee of an Investment Trust.

      • FUNDS 1.1.2

        These Rules apply to every Person who is, or intends to be:

        (a) a Fund Manager;
        (b) a member of the Governing Body;
        (c) an Eligible Custodian;
        (d) a Trustee; and
        (e) an oversight provider.

      • FUNDS 1.1.3 FUNDS 1.1.3

        These Rules also apply to an Authorised Person that:

        (a) carries on a Regulated Activity; or
        (b) undertakes a Transaction in or from the Abu Dhabi Global Market;

        in relation to a Domestic Fund or Foreign Fund.

        • Guidance

          1. These Rules regulate Fund Managers.
          2. These Rules also apply to marketing and selling of Units of Foreign Funds in or from the Abu Dhabi Global Market and to the carrying on of a Regulated Activity in relation to a Foreign Fund where any such activity is undertaken by an Authorised Person. In that regard, the COBS Rules also apply to the carrying on of Regulated Activities by an Authorised Person.
          3. If a Domestic Fund or Foreign Fund intends to list its Units on a Recognised Body, it will need to comply with the relevant Rules in the MKT Rulebook and the MIR Rulebook in respect of Domestic Funds.
          4. For the purposes of these Rules, an oversight provider is any person that would conduct oversight of a Public Fund, as permitted in accordance with FUNDS Rules 13.3.2.
          Amended on (3 February, 2020).

    • FUNDS 1.2 FUNDS 1.2 Client Classification

      • FUNDS 1.2.1

        For the purposes of these Rules:

        (a) the criteria to be classified as a Professional Client are specified in COBS Rule 2.4.1, and
        (b) the criteria to be classified as a Retail Client are specified in COBS Rule 2.3.