Regulatory Alerts2026-07-27
Added · Updated
Consultation Paper No 2 of 2026 - Proposed Enhancements to Transfer Schemes
The Financial Services Regulatory Authority of Abu Dhabi Global Market proposes narrowing mandatory court sanctioning for business transfers under Part 7 of the Financial Services and Markets Regulations to apply only to insurance business, excluding intragroup and reinsurance transfers where all policyholder consent is obtained. For all other transfers, the regulator introduces a 'Modified Transfer Scheme' regime under a new Chapter 8A of the General Rulebook, requiring prior written notification to the regulator, direct client notification, and public notice. Banks and the two excluded insurance scenarios must additionally obtain a no-objection acknowledgement from the regulator before proceeding. The consultation deadline for comments is 21 September 2026.
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