Regulatory Alerts2024-03-06
Consultation Paper No. 2 - Proposals for Whistleblowing Framework for the Abu Dhabi Global Market
The Registration Authority and Financial Services Regulatory Authority of the Abu Dhabi Global Market propose a regulatory framework to protect good faith whistleblowers making specified disclosures of misconduct. The framework mandates that Global Market Establishments implement proportionate arrangements, written policies, and record-keeping procedures to facilitate internal and external reporting channels while ensuring confidentiality and anonymity. Additionally, the proposal includes ancillary amendments to existing employment and financial services regulations to expand protections against retaliation and consider whistleblowing as a mitigating factor in penalty calculations.
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