Regulatory Alerts2022-11-08
Proposed amendments to COBS: ADGM Green and Climate Transition Portfolios
The Abu Dhabi Global Market Regulator introduces new Conduct of Business Rules establishing specific regulatory frameworks for ADGM Green Portfolios and ADGM Climate Transition Portfolios. These rules mandate that investment managers obtain formal Regulator designation, adhere to strict investment criteria based on accepted taxonomies or benchmarks, and secure annual third-party attestation of compliance. Additionally, authorized persons are required to provide detailed disclosures to retail clients and notify the Regulator of any material breaches or seek cancellation of designations when necessary.
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