MEIMA Pulse: April 2024 Edition

April has been a month filled with strategic regulatory engagements for the Middle East Investment Management Association (MEIMA). Here are the key updates and discussions that have taken place:

Regulatory Dialogue Highlights

• VARA Collaboration: We held a significant meeting with the Virtual Assets Regulatory Authority [VARA] to discuss future collaborations.
• FSRA Engagements: This month included a meeting on substantive topics and a separate briefing on proposed whistleblower regulations with the Financial Services Regulatory Authority.
• DIFC Discussions: We engaged in a broad-based discussion with the DIFC , focusing on enhancing our collaborative efforts.
• SCA Regulatory Updates: Discussions with the Securities and Commodities Authority covered their regulations and the emerging manager regime, vital for fostering new talent in the industry.

Whistleblowing Guidelines Discussion

Following ADGM ’s recent release of whistleblowing guidelines and a consultation paper, MEIMA discussed key aspects of these regulations with the FSRA. Our conversation addressed cultural implications, incentive schemes, and the differentiation between corporate and financial crimes, highlighting the need for widespread educational efforts as part of a long-term cultural change initiative.

Sustainability Initiatives

MEIMA Sustainable Investing Committee Roundtable: We are excited to announce an exclusive roundtable on May 16th titled "Building the Carbon Ecosystem in the UAE". Hosted by Christiane El Habre , Alishia Sullivan , and Jessica Robinson , this event will explore the strategic role of carbon funds in sustainable investing. Join us Thursday, May 16, 2024 at? Apex Group Ltd , Office 1408, Level 14, Burj Daman, DIFC, Dubai, U.A.E.The agenda includes examining the role of carbon funds, identifying opportunities within the carbon market, and discussing actionable steps for implementation.

MEIMA Spotlight: Adrian Harris

In our #MEIMASpotlight series this month, we featured Adrian Harris , founding member of MEIMA and CEO of Freedom Asset Management Limited . Since starting his fund management career in 1994, Adrian has held significant roles at Merrill Lynch Investment Managers and Schroders before co-founding Freedom Asset Management. The firm, based out of ADGM since 2019, manages approximately $1bn in assets. Adrian's instrumental role in establishing MEIMA highlights his commitment to enhancing the regulatory framework and collaboration within the Middle East’s investment community.

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Stay connected with MEIMA Pulse for the latest developments, insights, and opportunities within the Middle East investment management sector. For more information on becoming part of MEIMA, please reach out to us at [email protected].