المسؤولية المهنية المدنية العقدية لمدير صندوق الإستثمار "بالتطبيق على الخطأ أثناء عمليات الطرح" و مدى قابليتها للتأمين

Abstract EN

This study deals with an issue of concern for many financial markets customers: scope of investment manager’s professional, civil and contractual liability for professional mistakes in general, and for mistakes during offering operations in particular.

Study is intended to throw the spotlight on whether or not relevant legislations are adequate, and to determine the best legislations in this respect.

The topic is handled in two chapters along with an introductory one which provided a definition for investment manager and outlined relevant provisions.

The first chapter reviewed elements of civil, professional liability, while the second one the effects and insurability of such liability.

Analytical method was adopted owing to the paucity of studies addressing the topic: most of studies dealing with investment funds focus on economic and financial problems.

Study concluded with several findings and recommendations.

Key findings have shown that investment fund legislations in both KSA and the UAE, regulatory in nature, were better organized and more detailed in this regard than Egypt’s Capital Market Law and its Executive Regulation.

However the three legislations have not adopted an integrated system for the legal position of fund manager in terms of conditions, obligations and associated legal liabilities.

Key recommendations included the need for a comprehensive regulation of investment funds in the three countries given the easy procedures for amending regulations where economic changes (global and national) so require, and for moving beyond mere general conditions to the development of specific, precise controls on granting investment funds and portfolio management licenses.