Regulatory Alerts2023-03-30
Financial Services and Markets (Amendment No. X) Regulations 2023
The Board of Directors of the Abu Dhabi Global Market enacted the Financial Services and Markets (Amendment No. X) Regulations 2023 to modify the Financial Services and Markets Regulations 2015. These amendments establish detailed frameworks for transfer schemes, market contracts, and default proceedings, explicitly prioritizing the powers of Recognised Bodies over general insolvency procedures. The regulations further grant the Regulator enhanced prudential powers to issue directions, appoint skilled persons, and enforce assistance duties to ensure market stability and effective oversight.
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