ADGM Seeks Public Consultation on Enhancements to Its Legislative Framework in Relations to Funds and Other Miscellaneous AmendmentsADGM FSRA 03/04/2017
The Abu Dhabi Global Market (ADGM), together with the ADGM Financial Services Regulatory Authority (FSRA) and the ADGM Registration Authority (RA), today issued a public consultation paper inviting public feedback and comments for enhancements of its legislative framework, including the regulations and rules in relation to funds.
The proposed amendments include:-
- Enhance the FSRA Fund Rules to facilitate the establishment of private real estate investment trusts (REITs) as an Exempt Fund or Qualified Investor Fund;
- Enhance the disclosure of Investment Company shareholdings to the ADGM RA under the Companies Regulations of 2015, as well as minimising the public disclosure of unitholders information;
- Align the description of the Regulated Activity of Managing a Collective Investment Fund in line with international practice.
These enhancements are part of ADGM’s ongoing commitment to continuously improve its framework, in a manner which balances risk based regulations with needs of market participants.
ADGM invites the public and industry participants to submit their comments to “Consultation Paper No. 1 of 2017” by 11 May 2017 to:
Consultation Paper No. 1 of 2017
Financial Services Regulatory Authority
Abu Dhabi Global Market Square
Al Maryah Island
PO Box 111999
Abu Dhabi, UAE