The FSRA undertakes various regulatory functions to foster an open, efficient and transparent marketplace as well as a trusted regulatory environment. Within FSRA, the key departments are:
Banking and Insurance – The Banking and Insurance team is responsible for approving all applications to conduct banking and insurance related activities. The team adopts a risk-based focused approach to its supervision of banks, insurance companies and insurance intermediaries. Its objective is to foster the stability and strength of Abu Dhabi’s financial system by monitoring the safety and soundness of financial institutions in the ADGM, as well as adopting and promoting international best practice with regards to its supervisory and approach to regulation.
Capital Markets – The Capital Market team is responsible for admission and supervision of (i) financial market infrastructures such as exchanges, clearing houses and trade repositories, and (ii) capital market intermediaries such as fund managers, securities and futures intermediaries, corporate finance advisers, and investment advisers. It administers licensing and conduct rules to promote safe, sound and fair-dealing intermediaries and high governance standards. It also regulates (i) the offering of securities, collective investments schemes and unit trusts and (ii) the conduct of takeover and merger transactions.
Financial Centre Development – The Financial Centre Development team focuses on enhancing the ecosystem to support the growth of Abu Dhabi as an international financial centre. The Financial Centre Development team will assist companies and professionals that seek to become part of the vibrant Abu Dhabi financial industry to expand their international operations.
International Affairs – The International Affairs team will work closely with local and international regulatory agencies as well as multilateral organisations such as IMF, World Bank and IOSCO, at the same time, promote cooperation with fellow regulators and supervisors. In keeping abreast of international developments and trends, it assists in the development of best-in-class regulation that fosters financial innovation and growth.
Policy and Legal – The Policy and Legal department provides a number of services within the FSRA. These include the responsibility for overseeing all the development and maintenance of policy and legislation administered by the FSRA to meet its regulatory objectives. In doing this, it keeps abreast of international developments. In conjunction with its policy and legislative function, it also provides a full range of legal services to the Chief Executive and operational departments of the FSRA, such as legal advisory services.
Enforcement – The Enforcement team administers an enforcement regime that delivers fair and proportionate outcomes to deter financial misconduct and financial crime to preserve investor confidence and ADGM`s reputation as a financial centre.