Regulatory Alerts2021-01-01
Financial Regulatory Authority Board of Directors Resolution No. (95) of 2021
The Financial Regulatory Authority issued Resolution No. (95) of 2021 to amend the licensing requirements for direct investment companies by modifying the experience threshold for responsible managers. The revised clause mandates a minimum of five years in financing, securities markets, or financial institution management, which is reduced to four years for managers who successfully complete Authority-approved training courses. For affiliated general partners, the resolution further requires that their parent company be subject to a comparable supervisory authority and maintain an investment management team meeting the specified experience and competence standards.
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