Regulatory Alerts2020-10-27
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Consultation Paper No. 5 of 2020 - Proposed Introduction of the Company Service Providers Framework
The Abu Dhabi Global Market Registration Authority proposes a new regulatory framework to require certain Special Purpose Vehicles and foundations to appoint an ADGM-based Company Service Provider. The proposal introduces a new controlled activity for providing company services, imposes fit-and-proper and capital requirements on CSPs, and mandates compliance with client money rules. Implementation includes a transition period for existing entities and licensed providers to adapt to these enhanced regulatory obligations.
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