Regulatory Alerts2018-12-20
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Consultation Paper No. 9 of 2018 - Proposed Late Renewal Penalty Guide - Commercial Licences
The Abu Dhabi Global Market Registration Authority issued this consultation paper to seek public feedback on its proposed Late Renewal Penalty Guide for commercial licenses. The guide establishes a graduated penalty scheme for fines imposed on entities conducting business with expired licenses, scaling the penalty based on the duration of the lapse up to a maximum of USD 20,000. Stakeholders are invited to submit written comments by January 31, 2019, to influence the finalization of the policy regarding fine determination, payment, and appeals.
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