Regulatory Alerts2019-01-01
Consultation Paper No. 4 of 2019 – Proposed Miscellaneous Amendments to FSRA Regulations and Rules
The Financial Services Regulatory Authority of the Abu Dhabi Global Market proposes amendments to its regulatory framework to clarify definitions, correct errors, and align with international best practices. Key changes include requiring both pooling and management characteristics for collective investment funds, extending prohibition order powers to all individuals performing functions for authorized persons, and mandating semi-annual MLRO reports to higher management. Additional adjustments address suitability assessments for professional clients, fund accounting periods, and the application of anti-money laundering rules to fund administrators.
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