Page 25 - Annual Report 2022 EN
P. 25
/ 25 T ABLE OF C ONTENT S
Investment Manager, Advisor and Securities Supervision (IMAS)
In 2023, IMAS supervised 13 investment managers, Investment management products Qatar Derivatives Exchange (QDX) and
6 insurance intermediaries, 11 advisory firms, Qatar Central Clearing Counterparty
3 representative offices and 2 registered funds. IMAS implemented a system to supervise investment (QCCP)
products sold or managed by QFC firms, with portfolio
Reporting frequency varied between monthly and management activities primarily conducted from the IMAS is preparing for the changes required to
quarterly, and representative offices had an annual QFC for funds located in different jurisdictions. its authorisation, supervision and reporting
submission requirement. Return reviews were requirements in anticipation of the launch of the QDX
conducted within a month of receiving submissions, In Q4 2022, IMAS began aligning the reporting and QCCP. In this regard, supervisory dashboards
and offsite supervision was supported by regular period of product returns with monthly prudential are being developed for the QDX and QCCP and
engagement with senior management. returns, with pilot testing completed in February a specialist resource has been engaged.
2023. In August 2023, Excel reporting was
discontinued and the first iteration of XBRL
Risk Assessment Visits (RAVs) reporting for product returns was deployed. International training and conferences
In 2023 and with the purpose of engaging with
During the year, IMAS conducted 5 RAVs and 44 senior IMAS conducted a survey among QFCRA-authorised
international standard-setting organisations, IMAS team
manager meetings to monitor advisors, intermediaries, firms, using a set of voluntary disclosures for listed
members attended the following training and seminars:
and investment managers in the QFC. The reviews companies by the Qatar Stock Exchange, which is
focused on the conduct of business, business models, a member of the GCC Exchanges Committee. The
• IOSCO Risk-based Supervision program
customer classification, compliance, and conduct metrics comprised several standards that are aligned
for Securities Regulators
risk. The overall results were satisfactory, with fewer with the United Nations Sustainable Development
• IOSCO – International Swaps and Derivatives
adverse findings compared to the previous year. Goals (UN SDGs) and addressed topics including
Association (ISDA) Derivatives Training
greenhouse gas emissions, energy usage, water
• 25th IOSCO Seminar Training Program
usage, gender pay, employee turnover, gender
• Cambridge Digital Assets for Regulators (CDAR)
diversity, and ethics. IMAS supplemented this through
the addition of other core UN SDGs in areas such
as human capital and corporate governance.
IMAS continues to liaise closely with regional
partnerships which promote sustainability reporting in
the Gulf Cooperation Council states and neighbouring
countries. Capacity- building initiatives are
anticipated as the QFCRA moves towards mandatory
and voluntary disclosure sets by the sector.
