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Announcement
ADGM Seeks Public Consultation on Enhancements to Its Legislative Framework in Relations to Funds and Other Miscellaneous Amendments
ADGM FSRA 03/04/2017The 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:
Mail :
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Consultation Paper No. 1 of 2017 Financial Services Regulatory Authority Abu Dhabi Global Market Square Al Maryah Island PO Box 111999 Abu Dhabi, UAE Email: consultation@adgm.com |