Regulatory Alerts2024-01-01
Consultation Paper No. 5 of 2024 - SFOs and Company Charges
The Abu Dhabi Global Market Registration Authority proposes amendments to the Companies Regulations 2020 and commercial licensing rules to address charges against continuing companies and regulate Single Family Offices. The changes introduce a new registration timeline for existing charges of continuing companies to preserve priority and establish minimum net asset value requirements for SFOs to ensure economic benefit. Additionally, the proposals clarify SFO activities, expand the definition of family members for Restricted Scope Companies, and mandate that such companies remain wholly owned by the original family.
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