What are the rating activities?
rating activities are any of the following activities: data and information analysis with a view to a credit rating; and the evaluation , approval, issue, and review of a credit rating.
Who grants credit ratings?
Credit rating shall be granted by an authorised credit rating agency only.
What is the scope of the Investment Funds Regulations?
These Regulations aim at regulating the establishment, offering and management of investment funds and associated activities in the Kingdom.
What does an investment fund mean?
An investment fund is a collective investment scheme aimed at providing investors therein with an opportunity to participate collectively in the profits of the scheme which is managed by a fund manager for specified fees.
What does an investment fund unit mean?
An investment Fund unit means the interest of the holders in an investment fund consisting of units (including fractions of a unit), and each unit shall be treated as representing one undivided interest in the assets of an investment fund.
What are the types of the offering of units in investment funds?
The offering of units in investment funds may be a public offer or a private placement.
Shall the authorised person notify the Authority prior to offering units in a private investment fund?
Yes, a notification to the Authority must be made in the form specified in Annex (7) of the Investment Fund Regulations, and before at least 15 days of the proposed date of offering. Requirements of a private placement referred to in paragraph (a) of Article (76) of the Investment Funds Regulations must be met.
Shall a person who publicly offers units in an investment fund obtain the approval of the Authority?
Any person seeking to establish, and offer units in, a public fund must submit an application to the Authority which contains the information specified in Annex 4 of the Investment Funds Regulations. The Applicant must be an authorised person that is authorised to carry out the activity of managing.
What does a fund manager mean?
A fund manager is an authorised person that is authorised to carry out managing activities and is responsible for the administration, of the assets of an investment fund, managing the fund's businesses and offering its units.
What are the eligibility requirements of a fund manager?
The fund manager must be an authorised persons to conduct the activities of management.
What is the contractual form of a public fund?
The contractual relationship between the potential unitholders and the fund manager is established by signing the terms and conditions of the relevant fund.
May a person appeal against decisions or actions taken by the Authority as per the Investment Funds Regulations? What is the process thereof?
A person subject to provisions of these Regulations may appeal to the Committee for the Resolution of Securities Disputes as stated in Article (25) of the Capital Market Law in respect of any decision or action that the Authority takes under the Investment Funds Regulations.
What is a Private Real Estate Investment Fund?
The offering of private real estate investment fund's units is deemed private if offered as per the provisions set forth in part 4 of the Investment Fund Regulations.
What is the objective of the Real Estate Investment Funds Regulations?
These Regulations aim at regulating the establishment, offering, and management of Real Estate investment Funds, protection of Unitholders rights and the application of disclosure and transparency rules. These Regulations should be read in conjunction with and in addition to the Authorised Persons Regulations and the Securities Business Regulations
What does Real Estate Investment Fund mean?
A Real Estate Investment Fund means a collective real estate investment scheme which aims to provide the chance for investors to participate together in the scheme’s profits, managed by the Fund Manager for a specified fee.
