Independent Review Bodies

service

The ADGM Financial Services and Markets Regulations 2015 created two independent bodies to promote proper governance and due process – the Regulatory Committee and the Appeals Panel. The function of these two bodies is to promote proper observance of due process and provide procedural fairness to secure consistent, transparent and proportionate use of the Financial Services Regulatory Authority’s (FSRA’s) powers.

Abu Dhabi Global Market Authorities Building
Regulatory Committee

The ADGM Board of Directors established the Regulatory Committee to support the independence, integrity and procedural fairness of the FSRA in exercising its powers.

The Regulatory Committee is established in accordance with ADGM Financial Services and Markets Regulations 2015 to provide an independent review of a wide range of administrative decisions made by the Regulator and to, in some cases, consider and determine executive decisions referred to it by the FSRA.

The Regulatory Committee seeks to secure consistent, transparent and proportionate use of regulatory powers and increase regulatory certainty and the expedient resolution of matters.

The Regulatory Committee comprises four global independent industry leaders with an extensive spectrum of regulatory, financial and business expertise. It is chaired by Ms Jane Diplock AO, ex-Chairman of the International Organization of Securities Commissions and an internationally-recognised financial regulatory expert.
Jane Diplock
Chairperson
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Mr Andrew Whittaker
Member
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Mr Chandrashekhar Bhaskar Bhave
Member
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Mr Xiaodong Tang
Member
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Regulatory Committee Practice and Procedures

The Regulatory Committee Practice and Procedures set out the operation and procedures of the Regulatory Committee. These procedures are to be read in conjunction with Part 19, Chapter 1 of the Financial Services and Markets Regulations 2015.

Please click here to read the “Regulatory Committee Practice and Procedure”.

 

Appeals Panel

The ADGM Board of Directors established the Appeals Panel in accordance with ADGM Financial Services and Markets Regulations 2015.

The Appeals Panel is set up to review and determine decisions made in the first instance by the Regulatory Committee to ensure proper observance of due process and procedural fairness of the FSRA in exercising its duties and powers in a consistent, transparent and balanced manner.

The Appeals Panel has full independence and authority for determining regulatory appeals and is independent of the ADGM Board of Directors, the FSRA, the Regulatory Committee and the ADGM Courts to preserve its objectivity and impartiality.

It is one of two independent bodies created under the ADGM Financial Services and Markets Regulations 2015 to promote proper governance and due process.

The Appeals Panel comprises four global legal professionals with outstanding expertise and experience in commercial litigation, international arbitration, banking and finance, commercial dispute resolution and others. The Panel is led by Mr Michael Brindle QC as the President.
Mr Michael Brindle QC
President
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Ms Patricia Robertson QC
Member
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Ms Rachel Eng
Member
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Mr Mark Hapgood QC
Member
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Appeals Panel Practice and Procedures

The Appeals Panel Practice and Procedures set out the operation and procedures of the Appeals Panel. These procedures are to be read in conjunction with Part 19, Chapter 1 of the Financial Services and Markets Regulations 2015.

Please click here to read the “Appeals Panel Practice and Procedures”.