19 June 2017, Abu Dhabi, UAE

In response to Consultation Paper No. 1 of 2017, Abu Dhabi Global Market (ADGM) received supportive feedback from the public and industry participants during the consultation period to the proposed enhancements of the ADGM’s legislative framework, including the regulations and rules in relation to funds. The Board of Directors of the ADGM have thus enacted and published changes to numerous ADGM regulations and rules, as more particularly described in the Consultation Paper. These changes are part of ADGM’s ongoing commitment to align with international best practice and to provide a fair, well-regulated and internationally-recognised platform that meets the needs of its markets.

The enacted revisions include enhancements to the Fund Rules and Companies Regulations which enable the establishment of private real estate investment trusts (REITs) in the ADGM and safeguard the privacy of unitholders of ADGM-based funds.

The amendments to the Regulations and Rules are immediately effective as of the current date. The Financial Services Regulatory Authority and the Registration Authority express their appreciation to all respondents who had submitted comments and observations in response to the proposed amendments.

ADGM will regularly review and strengthen its financial services rules and regulations to maintain a robust and highly efficient funds and investment platform, and in response to the developments of the local and global markets.

For the newly implemented changes and enhancement, please "ADGM Legal Framework – Notices of Publication – Regulations & Rules" for more details.

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About Abu Dhabi Global Market 
Abu Dhabi Global Market (ADGM), an international financial centre located in the capital city of the United Arab Emirates, opened for business on 21

In line with the Abu Dhabi’s Economic Vision, ADGM is a natural extension of Abu Dhabi’s role as a reliable and responsible member of the global financial community. Strategically situated in Abu Dhabi, home to one of the world’s largest sovereign wealth funds, ADGM plays a pivotal role in positioning Abu Dhabi as a global centre for business and finance that connects the growing economies of the Middle East, Africa and South Asia.

ADGM’s three independent authorities, the Registration Authority, the Financial Services Regulatory Authority and ADGM Courts, enable registered companies to conduct business in a zero-percent tax environment and operate with confidence within an international regulatory framework with its own independent judicial system and legislative infrastructure based on the Common Law.

Established by a UAE Federal Decree as a broad based financial centre, ADGM’s foundation is anchored on three of Abu Dhabi’s strategic strengths - private banking, wealth management and asset management and will continually expand its financial services in response to the needs of its businesses and marketplace.

Abu Dhabi Global Market is located on Al Maryah Island, a 114-hectare development that is home to world-class business and lifestyle facilities such as the Rosewood and Four Seasons Hotels and Residences, the first ever specialty Cleveland Clinic Hospital outside of USA, luxury retail at the Galleria Mall, and grade-A offices spaces to meet Abu Dhabi’s long-term development and economic needs. All these complement ADGM’s international financial centre position as a vibrant destination in the capital city in Abu Dhabi. For more details of ADGM, please visit www.adgm.com or follow us on Twitter : @adglobalmarket, @FinTechAD, #FinTechAD, and Linked : ADGM

For further enquiries, please contact: 
Joan Lew, Senior Manager, Communications
Email: joan.lew@adgm.com
Telephone: +971 2 333 8858 
Online: www.adgm.com

© Press Release 2017