Regulatory Alerts2015-07-13
Consultation Paper No. 9 - Financial Services - Supplementary Rules and Regulations
The Board of Directors of the Abu Dhabi Global Market proposes new rules governing insurance activities, including the Prudential Insurance Business Module and Captive Insurance Business, alongside regulations for corporate takeovers. The framework establishes specific capital adequacy and risk management requirements for insurers and Insurance Special Purpose Vehicles, while categorizing captive insurers based on their risk exposure and business models. Additionally, the document outlines a takeover regime modeled on the UK City Code, creating an independent Panel to regulate bids and enforce compulsory purchase and sale rights for minority shareholders.
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