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Dubai tweaks definition of professional clients

Following consultations with practitioners, Dubai’s regulators have come to a conclusion on adjustments of what it defines as a “professional client”, resulting in a give-and-take exercise. Firstly, the Dubai Financial Services Authority (DFSA) has raised the asset threshold from US$500,000 to US$1 million, effective as of April 1 in 2016—a move that falls in the line with the industrywide definition…

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