Regulatory Alerts2023-01-01
Consultation Paper No. 4 of 2023 - Proposals for Revisions to Fees and Recognised Functions
The Financial Services Regulatory Authority of the Abu Dhabi Global Market proposes increasing existing authorization and supervision fees to better reflect regulatory costs and benchmark against peer jurisdictions. The regulator also introduces new standalone fees for specific activities such as change in control, waiver requests, and sustainable finance designations, while consolidating the Approved Persons and Recognised Persons categories into a single Approved Persons regime. These amendments aim to align the fee structure with the resource demands of ADGM's expanding financial ecosystem and are scheduled for implementation in 2024 following the consultation period ending on 6 November 2023.
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