Regulatory Alerts2021-01-01
Consultation Paper No. 4 of 2021 – Proposed Merger of FSRA Regulatory Committee and Appeals Panel
The Abu Dhabi Global Market proposes merging the FSRA Regulatory Committee and Appeals Panel into a single independent body to streamline merits reviews and reduce costs for litigants. The new Appeals Panel would handle full merits reviews of regulatory decisions while retaining an executive decision-making function for conflict-of-interest scenarios, with appeals proceeding to the ADGM Court of First Instance. The consultation seeks public feedback on the merger structure, panel composition, and hearing procedures before the changes are enacted in the Financial Services and Markets Regulations 2015.
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