Regulatory Alerts2015-07-08
Abu Dhabi Global Market Consultation Paper No. 7 of 2015: Financial Services Regulations and Rules
The Board of Directors of the Abu Dhabi Global Market (ADGM) issued this consultation paper to invite public comment on proposals for the Financial Services and Markets Regulations (FSMR) and the accompanying FSMR Rulebook. The proposed framework, modeled on the UK’s Financial Services and Markets Act 2000, establishes the legislative basis for financial services in ADGM, including licensing regimes, regulated activities, and market conduct rules. Key provisions detail the powers of the Financial Services Regulatory Authority, authorization procedures, market abuse prevention, and disciplinary measures, while incorporating elements of English common law and EU regulations such as EMIR.
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