Dubai is considering major regulatory changes for currency managers.

Investing.com — Dubai is considering significant changes in its regulations for money managers to enhance its reputation as an emerging hub for hedge funds. Officials from the Dubai Financial Services Authority (DFSA) are conducting a comprehensive review of the city’s regulatory framework. A spokesperson from the agency stated, "Our goal is to reduce unnecessary regulatory constraints and lower barriers to entry."

Proposals have already been made to decrease minimum capital requirements for certain money managers. The DFSA is also contemplating reducing the amount of emergency cash firms must maintain. Furthermore, the regulatory body may eliminate rules that require approval for key personnel hires. The DFSA emphasized that these proposed changes are an extension of previous regulations and will continue to align with international regulatory standards.