Regulatory Alerts2022-05-30
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Consultation Paper No. 3 of 2022 - Proposed Changes to ADGM Commercial Legislation
The Abu Dhabi Global Market Registration Authority proposes amendments to commercial regulations to introduce a mandatory Commercial Licence Renewal Obligation, replacing the current annual new application requirement. The Authority also seeks to implement a Late Filing Fee Framework charging USD 150 per month for delayed submissions to incentivize timely compliance with filing obligations. Additionally, the consultation covers miscellaneous updates including simplified strike-off processes, fee structure simplifications, and amendments to data protection and employment regulations.
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