Regulatory Alerts2022-01-01
Consultation Paper No. 7 of 2022 - Amendments to the ADGM’s Company Service Provider Regulatory Framework
The Abu Dhabi Global Market Registration Authority proposes significant amendments to its corporate service provider regulatory framework to enhance oversight and operational standards. Key requirements include mandatory annual staff certification, physical staffing presence in ADGM, annual audited accounts, and the appointment of full-time Money Laundering Reporting and Compliance Officers. Additionally, the proposals introduce a USD 50,000 minimum regulatory capital requirement, revenue-based professional indemnity insurance, and an annual business activity fee to ensure financial resilience and transparency.
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