ADGM Achieves International Recognition for In House Legal Services winning several Legal Team of the Year AwardsADGM FSRA 07/07/2019
07 July 2019, Abu Dhabi - UAE: The Financial Services Regulatory Authority (FSRA) legal team of Abu Dhabi Global Market (ADGM) has three top awards at the prestigious annual In-House Community Counsels of the Year Awards 2019 held in Hong Kong. The FSRA legal team was awarded the “Middle East In-House Legal Team of the year 2019”, “In-House Community Legal Team of the Year 2019 on Banking”, and “In-House Community Legal Team of the Year 2019 on Innovation”.
As part of the awards selection, the In-House Community judging panel has taken into consideration the FSRA’s transformational initiatives and bold regulatory milestones. For example, the FSRA successfully introduced in 2018 several new legislative and regulatory developments including Bank Recovery & Resolution; launched a comprehensive framework to regulate crypto asset activities, including those undertaken by exchanges, custodians and other intermediaries ; and launched a unique framework to regulate operators of Private Financing Platforms serving equity investment, debt financing and trade receivables funding needs of start-ups, private enterprises and SMEs.
Richard Teng, CEO of the FSRA of ADGM said: “We are heartened and humbled to receive this prestigious recognition from our highly acclaimed legal peers and fellow-leaders of the industry. This acknowledgement spurs us to raise the bar even higher, and continue to innovate and serve the marketplace and economy. As an International Financial Centre, we constantly evaluate the fast evolving needs of our industry and market participants to create a thriving and sustainable financial ecosystem. We have an extremely high-performing legal team that enables us to achieve ground-breaking milestones and transformation, and we look to them to take us to greater heights and achievements.”
The FSRA legal team of ADGM, MTR Corp, Flash Entertainment, Telstra Corporation, Clifford Chance, Baker McKenzie and Lawcadia were among the top winners at the fourth annual Awards dinner which was well-attended by well-known legal and compliance professionals from around the globe.
In-house Community is a supportive community of professionals that help in-house legal and compliance professionals meet their ethical, legal and business commitments and responsibilities within their organisations. It is comprised of over 20,000 in-house lawyers and those with a responsibility for legal and compliance issues in the Asia-MENA region. The annual awards are based on submissions from in-house counsel across Asia, the Middle East and Africa, and are selected by a panel of independent judges.
About Abu Dhabi Global Market
Abu Dhabi Global Market (ADGM), an international financial centre (IFC) located in the capital city of the United Arab Emirates, opened for business on 21 October 2015. Established by a UAE Federal Decree as a broad-based financial centre, ADGM augments Abu Dhabi’s position as a global hub for business and finance and serves as a strategic link between the growing economies of the Middle East, Africa and South Asia and the rest of the world.
ADGM’s strategy is anchored by Abu Dhabi’s key strengths including private banking, wealth management, asset management and financial innovation. Comprising three independent authorities: ADGM Courts, the Financial Services Regulatory Authority and the Registration Authority, ADGM as an IFC governs Al Maryah Island which is a designated financial free zone. It enables registered financial institutions, companies and entities to operate, innovate and succeed within an international regulatory framework based on Common Law.
Since its inception, ADGM has been awarded the “Financial Centre of the Year (MENA)” for three consecutive years for its initiatives and contributions to the financial and capital markets industry in the region.* For more details of ADGM, please visit www.adgm.com or follow us on Twitter: @adglobalmarket @FinTechAD, #FinTechAD and Linkedin: ADGM
* Source : The Global Investor Middle East and North Africa (MENA) Awards
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