ADGM makes Rules under new Data Protection Regulations 2021ADGM 25/07/2021
- New rules regarding Fees and Fines
Abu Dhabi Global Market (ADGM), the International Financial Centre located in Abu Dhabi, announced today that it has issued new rules under the Data Protection Regulations 2021 (DPR 2021).
As such, and to supplement the DPR 2021, the new rules include:
- Data Protection Regulations (Fees) Rules 2021 (DPR Fees Rules); and
- Data Protection Regulations (Fines) Rules 2021 (DPR Fines Rules).
To promote orderly integration and compliance, the transition periods for implementation of the DPR 2021, DPR Fees Rules and DPR Fines Rules are as follows:
- For entities registered on or after 14 February 2021, the DPR 2021, DPR Fees Rules and DPR Fines Rules will apply to these entities from 14 August 2021; and
- For entities in existence before 14 February 2021, the DPR 2021, DPR Fees Rules and DPR Fines Rules will apply to these entities from 14 February 2022.
In addition to the rules, the independent ADGM Office of Data Protection, established earlier this year to monitor and enforce the implementation of and adherence to DPR 2021, will also be publishing a suite of guidance documents to assist ADGM entities in understanding and interpreting the DPR 2021. The guidance will be published on the ADGM Office of Data Protection webpage.