Podcast
10 Leaves
Hosted by 10 Leaves Limited · EN
Take a good look into how financial service businesses are authorised in the DIFC and the ADGM.
We also assist you with setting up funds and obtaining financial licenses in Luxembourg.
Get in touch should you wish to engage 10 Leaves to work on your licensing application!
https://10leaves.ae/
10episodes
Episodes
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The DFSA Tokenisation Regulatory Sandbox
Mar 17, 202500:17:55Tap to summarizeDFSA jumps onto the tokenisation bandwagon by offering an ITL-route to regulation. Existing DFSA-regulated firms are also eligible - will we see real estate crowdfunding platforms ‘crowding’ up this space??Personally, we see this as a HUGE opportunity for Crowdfunding platforms and others seeking tokenisation of Real World Assets - get in touch!
Transcribe →DIFC AI and Web 3.0 Licenses
Aug 29, 202300:22:45Tap to summarizeYou can also read the article here: https://10leaves.ae/publications/difc/difc-artificial-intelligence-and-web-3-0-licenses DIFC is building the world-class Campus spanning over 100,000 sq. ft. within the DIFC jurisdiction. Dubai AI & Web 3.0 Campus’ will attract over US$ 300 million in collective funds, 500+ global AI and Web 3.0 start-ups, and create 3000+ jobs by 2028. The Dubai AI & Web 3.0 Campus will provide world-class physical and digital infrastructure including R&D facilities, accelerator programs and collaborative workspaces, to attract, build and scale AI companies. The DIFC AI and Web 3.0 License is one of the cornerstones of the push towards making the DIFC, and the UAE, a hub of technological innovation and advancement.
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Guide to the ADGM Fund Manager License
May 16, 202300:09:56Tap to summarizeFirms interested in managing funds from the ADGM are required to submit applications to the Financial Services Regulatory Authority, or FSRA. The FSRA has a fast-track process for Fund Manager licenses, which come under Category 3C. The Fund Manager, if approved, can manage domestic professional (Exempt and Qualified Investor Funds) and Foreign Funds in other jurisdictions as well. In case the firm wishes to also engage in discretionary portfolio management services, it has to go through a full-fledged license process.
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Hang on…
May 7, 202300:03:08Tap to summarizeDid you know that in 2019 alone, criminals moved a whopping $2.8 billion in Bitcoin? Yes, you read that right! Cryptocurrency is now one of the preferred destinations for illicit funds by criminals worldwide. Surprisingly, more than half of this amount was transferred to just two exchange platforms - Binance and Huobi.
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From the international desk…
May 7, 202300:04:04Tap to summarizeClick here to Subscribe now! Relevant links below: https://home.treasury.gov/news/press-releases/jy1391?utm_source=riffle.beehiiv.com&utm_medium=referral&utm_campaign=from-the-international-desk https://resources.hummingbird.co/product-updates-and-news/apps?utm_source=riffle.beehiiv.com&utm_medium=referral&utm_campaign=from-the-international-desk https://www.eba.europa.eu/calendar/consultation-draft-guidelines-amending-risk-based-supervision-guidelines?utm_source=riffle.beehiiv.com&utm_medium=referral&utm_campaign=from-the-international-desk https://www.gov.uk/government/news/changes-to-reporting-material-discrepancies-to-companies-house?utm_source=riffle.beehiiv.com&utm_medium=referral&utm_campaign=from-the-international-desk This episode is also available as a blog post: https://riffle.beehiiv.com/p/international-desk
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Let’s talk penalties…
May 7, 202300:01:18Tap to summarizeClick here to Subscribe now! A Fixed Penalty Regime (FPN) is coming. Put very simply, it works as follows: Breach occurs DFSA issues an FPN. Pay the penalty (maximum US$ 50,000) and remedy the breach. If you do 3, DFSA doesn’t sanction you. No public censure and no fine. If you don’t do 3, DFSA can launch enforcement proceedings (i.e. not good news) Read more here. This episode is also available as a blog post: https://riffle.beehiiv.com/p/lets-talk-penalties
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It’s all about the money!
May 7, 202300:02:05Tap to summarizeClick here to Subscribe now! The new consultation paper clarifies the DFSA’s stance on Payment Accounts for corporate clients, which allows greater flexibility for money service businesses to offer multiple functionalities to their customers, including larger sums held in Payment Accounts, multi-currency virtual IBANs and issuance of pre-paid cards. Read the consultation paper here. And details on the EMI license here. This episode is also available as a blog post: https://riffle.beehiiv.com/p/money
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Welcome to the Riffle!
May 7, 202300:01:19Tap to summarizeClick here to Subscribe now! What kind of a name is Riffle? Is it Rifle? As in smoking gun? Err, actually that’s a great alternative name by the way. But no, it’s called Riffle - as in riffling through many pages, turning them over, having a quick look. AHA. So you don’t go into detail - a casual look at things. I wouldn’t put it that way. More like giving you a gist of info, rather than a pile that no one cares to read. Nice. And why are we having a convo again? Isn’t this serious stuff? Of course! Compliance and AML are mighty serious, and this is why we came out with the Riffle. To give you a channel to ACTUALLY read stuff that matters, rather than…for lack of a better word - riffle through it. And yes, a bit of bionic reading thrown in. You know, the bold bits that actually matter and make you read faster? This episode is also available as a blog post: https://riffle.beehiiv.com/c/about-riffle
Transcribe →Hedge Funds in the DIFC
Apr 28, 202300:12:40Tap to summarizeThis episode is also available as a blog post: https://10leaves.ae/publications/difc/hedge-funds-in-the-difc The DIFC is a leading financial hub in the region. Besides offering a wide range of financial service activities, the centre also provides an integrated environment and world-class standard of living. It is well regarded in the international community as well. During 2022, a record number of hedge funds registered in the Centre, with more expected to open in 2023. It has been reported that over 60 hedge funds are in DIFC's pipeline. The global hedge fund sector is still dominated by older, more established centres like London and New York, but the Middle East is a young market where Dubai offers all the necessary circumstances for expansion, especially in the aftermath of the Covid epidemic. Due to the government's successful management of the outbreak and the far less limitations there than in other centers, Dubai had a significant inflow of managers throughout the pandemic. This gave managers the chance to see firsthand the various benefits the emirate provides hedge funds contemplating establishing an office there.
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The new DIFC Launchpad!
Apr 12, 202300:15:41Tap to summarizeThis episode is also available as a blog post: https://10leaves.ae/publications/difc/difc-venture-studio-launchpad-license The DIFC has now announced the launch of the first global “Venture Studio Launchpad” to assist with the growth of the UAE’s financial ecosystem, and to be a growth partner and business enabler to venture studios, allowing them to set up and scale from the DIFC. The Proposed Venture Studio Regulations provide the legal and regulatory framework under which venture studios, and similar arrangements, and any “spin-off” entities formed by venture studios, can establish and operate in the DIFC. This initiative complements the existing DIFC Venture Fund Manager Framework, and the DIFC Innovation licenseinitiatives, which together will serve to make the DIFC the leading destination for both innovators and their funding partners.
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