ABU DHABI, 19th June, 2017 (WAM) -- The Abu Dhabi Global Market, ADGM, has enacted and published changes to numerous ADGM regulations and rules as part of its 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.
This came in response to Consultation Paper No. 1 of 2017, with regards to which 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 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 expressed 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.
© Copyright Emirates News Agency (WAM) 2017.