Doha, Qatar, July 19, 2010
Consultation paper for feedback open until 30 August 2010
The QFC Regulatory Authority has issued a Consultation Paper seeking feedback on a round of miscellaneous rule amendments, including amendments to facilitate its ability to receive electronic submissions from authorised firms.
The introduction of these rule amendments will give the Regulatory Authority the capability to allow firms to electronically submit their returns over a web-based information exchange. This capability will subsequently be rolled-out at a date to be confirmed with authorised firms, following implementation of the proposed rule amendments.
The consultation period for responses is open until 30 August 2010, and it is anticipated that the final rules will commence on 1 October 2010.
The Consultation Paper, draft rules and details for the submission of comments can be found on the QFC Regulatory Authority website at:
http://www.complinet.com/qfcra/display/display.html?rbid=1557&element_id=3290
Media Contacts:
Jeremy Hunt - QFCRA
T: +974 495 6702
F: +974 483 0894
E: j.hunt@qfcra.com
About the QFC Regulatory Authority
The QFC Regulatory Authority is an independent regulatory body established by Article 8 of the QFC Law. It regulates firms that conduct financial services in or from the QFC. It has a broad range of regulatory powers to authorise, supervise and, when necessary, discipline firms and individuals. The QFC Regulatory Authority regulates firms using principle-based legislation of international standard, modelled closely on that used in London and other major financial centres. Further details are available on the website www.qfcra.com
About the Qatar Financial Centre
The Qatar Financial Centre (QFC) is a financial and business centre established by the Government of Qatar and located in Doha. It has been designed to attract international financial services institutions and major multi-national corporations and to encourage participation in the growing market for financial services in Qatar and elsewhere in the region. The QFC operates to international standards and provides a first class legal and business infrastructure for those doing business within the QFC. The QFC was created by QFC Law No.(7) of Qatar and has been open for business since 1 May 2005. The QFC Authority is the commercial, administrative and legislative body responsible for driving the commercial strategy of the QFC. More information on the QFC Authority is available at www.qfc.com.qa