Regulatory Alerts2024-02-27
Proposed Enhancements to the Registration Authority ’s Investigative Powers
The Abu Dhabi Global Market Registration Authority proposes amendments to the Commercial Licensing Regulations 2015 to significantly expand its investigative powers and enforcement capabilities. The proposed changes would authorize investigators to record interviews, direct proceedings, enter premises to inspect documents, recover investigation costs from non-compliant parties, and criminalize obstruction or failure to provide information. Additionally, the amendments increase maximum compliance fines to level 8 and establish a public consultation deadline of 17 March 2024 before final enactment by the ADGM Board.
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