The Dubai Financial Services Authority (DFSA), the independent regulator of the Dubai International Financial Centre (DIFC), issued Consultation Paper No. 173 on Tuesday, outlining proposals for significant updates to the Collective Investment Funds Framework. These proposals represent the most substantial revision of the framework since 2010, having been initially established in 2006. Since its implementation, the asset management and funds sector in the DIFC has witnessed rapid growth and development in line with international standards and best regulatory practices, according to the Emirates News Agency (WAM). The Dubai Financial Services Authority (DFSA) aims to attract 182 companies in 2025, representing a 16% growth. The regulatory requirements outlined in the consultation paper include a set of key points to enhance the clarity of regulatory requirements, most notably: the shift from rigid classifications of private funds to a more flexible approach based on risk assessment and taking into account hybrid and multi-strategy investment models. In addition to simplifying investment manager licensing requirements, the proposals include making "acting as an agent" and "arranging deals" activities integral to fund management within the asset management license. They also include updating public fund structures (main and feeder) by eliminating outdated eligibility criteria and broadening the definition of a main fund to align with market practices.