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Doha, Qatar – The Qatar Financial Centre Regulatory Authority (“QFCRA”) announced that it has completed the signing of twenty-one Memoranda of Understanding (“MoU”) with securities regulators in the European Union. The MoUs were coordinated by the European Securities and Markets Authority (“ESMA”), following its review of the QFC’s legislative and supervisory framework and its approval of the QFCRA as a MoU counterparty.
The signatories to the MoUs with the QFCRA include the securities regulators in France, United Kingdom, Netherlands, Ireland, Portugal, Luxembourg, Cyprus, Sweden, Denmark, Norway, Iceland, Liechtenstein, Malta, Lithuania, Greece, Poland, Estonia, Latvia, Slovak Republic, Bulgaria and Austria.
The MoUs create the opportunity for QFC fund managers to manage and market funds (such as real estate funds, private equity funds and hedge funds) to professional investors in the European Union and represent a significant opportunity for asset managers authorised in the Qatar Financial Centre.
Mr Michael Ryan, Chief Executive Officer of the QFCRA, said, “The network of MoUs that the QFCRA has established recognises the QFC as a leading international financial centre and establishes a platform for new and existing QFC fund managers to enter new markets and access a greater pool of investors.”
On 11 September, the Qatar Financial Centre Authority will host an asset management roundtable with investment managers in the QFC to discuss the opportunities that the signing of the MoUs provides to firms.
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QFC Regulatory Authority Media Contact:
Betsy Richman
Head of Corporate Communications
QFC Regulatory Authority
T: +974 4495 6772
M: +974 3355-0206
About the QFC Regulatory Authority
The QFC Regulatory Authority is an independent regulatory body established in 2005 by Article 8 of the QFC Law. It regulates firms that conduct financial services in or from the QFC. It has a broad range of regulatory powers to authorise, supervise and, when necessary, discipline firms and individuals. The QFC Regulatory Authority regulates firms using principle-based legislation of international standard, modelled closely on that used in major financial centres. Further details are available on the website www.qfcra.com
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