Qatar Financial Centre Regulatory Authority adopts new rules for the acquisition of significant ownership positions in QFC authorised firms | White & Case LLP International Law Firm, Global Law Practice
Qatar Financial Centre Regulatory Authority adopts new rules for the acquisition of significant ownership positions in QFC authorised firms

Qatar Financial Centre Regulatory Authority adopts new rules for the acquisition of significant ownership positions in QFC authorised firms

The Qatar Financial Centre Regulatory Authority (the "QFCRA"), has recently adopted changes to the rules governing the acquisition of significant ownership positions in Qatar Financial Centre ("QFC") authorised firms. The General (Controller and Miscellaneous) Amendments Rules 20141 ("New Rules") amend the General Rules 2005 ("GENE") and came into effect on 1 February 2014.

The New Rules primarily amend the provisions in chapter 8 of GENE relating to controllers and impose certain reporting, monitoring and other requirements in connection with an increase, decrease or change of control in the shareholding (whether direct shareholding or at the parent level) of a QFC authorised firm.

Discussed is a summary of the key amendments set out in the New Rules and their impact on QFC authorised firms.

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