Abu Dhabi Global Market publishes draft regulations

, ,
Abu Dhabi Global Market publishes draft regulations

Abu Dhabi Global Market publishes draft regulations

(Abu Dhabi) – Abu Dhabi Global Market (ADGM), the international financial centre in Abu Dhabi, published its draft financial services legislation.
The new set to regulations includes the Financial Services and Markets Regulations and its accompanying rules, in addition to the Limited Liability Partnership Regulations. These regulations are now open for consultation from the public.
In the coming weeks, ADGM will also publish further consultation papers that will be supplementary to the draft financial services regulations and rules published, and will include specific rules regarding insurance.
The draft legislation is comprehensive in scope, spanning the categories of regulated financial services and market activities, approach to management and/or marketing of funds and investment offerings, mandatory disclosure requirements to safeguard the interests of the marketplace, market infrastructure system, market conduct rules, and ADGM’s disciplinary actions and enforcement powers.
The regulations and rule books will provide a business-orientated, well-regulated and internationally-recognised platform that will support all financial services business transacted at ADGM.
Publication of this substantial draft legal framework for public consultation follows a detailed review by ADGM’s Expert Panel, which includes representation from more than 25 global and local financial institutions.
(Courtesy WAM)