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New Legislation - Crowdfunding and Credit Funds
The DFSA has made amendments to legislation, effective from August 1, 2024
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July 18, 2024
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The Riffle
The DFSA has made changes to lending and investment limits (US$ 50k changed to US$ 100k) for Retail Clients, allowed investments through Credit Cards and allowed Fund Managers to manage External Credit funds, as long as they are QIFs.
The DFSA has made amendments to legislation, effective from August 1, 2024.
The changes include:
For CF Platforms:
Disclosure requirements for CF platforms to address app-based solutions.
Permission to make general ads outside the platform
Increase of investment limits for Retail Clients - from US$ 50k to US$ 100k, with a single investment limit of US$ 50k
Allowing investments through Credit Cards
Funding/Property Investment limit increased from US$ 5 million to US$ 10 million (per proposal)
For Credit Funds:
Fund Managers are now permitted to manage External Credit Funds, if they are QIFs.
New rules on risk warnings for such funds
For a deep dive, read our full dossier on the subject by clicking the link below.
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