ADGM Publishes the Registration Authority’s Regulatory Priorities for 2022-2023ADGM RA 25/08/2022
The publication describes the regulatory priorities, functions, and monitoring framework of ADGM’s Registration Authority (RA)
Abu Dhabi Global Market (ADGM), the leading international financial centre (IFC) located in Abu Dhabi, has published the Registration Authority’s (RA) Monitoring & Enforcement Strategy & Regulatory Priorities 2022-23.
The report is part of ADGM RA’s long-term commitment to providing clear regulation and monitoring to support businesses for their advisors and stakeholders through a transparent approach. It describes the RA’s regulatory strategy and objectives as well as priorities.
Providing clarity on these aspects, as well as the RA’s regulatory functions while enabling monitoring and enforcement of the framework serves to benefit the over 5,000 ADGM registered businesses and their advisors within the IFC.
As set out in this publication, the RA’s regulatory priorities include encouraging accuracy and timeliness of annual filings and license renewals, compliance with beneficial ownership information requirements as well as high audit quality standards across the business community. The document provides information on further developments to the transparent regulatory environment for ADGM’s current and potential registered companies, along with a description of the Authority's supervisory work-plan through the end of 2023.
Dhaher bin Dhaher Al Muhairi, CEO of ADGM Registration Authority said, “The Registration Authority’s dedication to strengthening the regulatory pillars of ADGM underlines the importance of anticipating the needs of our ever-growing business community. With that, it is crucial to ensure that firms registered in the ADGM jurisdiction understand the Authority’s approach to supervision and its priority areas for compliance. We consider transparency as a major enabler of seamless scaling for our business partners as we continue to focus on expanding financial markets in Abu Dhabi and the UAE, while ensuring the continuous application of our high regulatory standards.”
Thanks to its long-term commitment to maintaining service excellence ADGM successfully expanded its global footprint in the past year, resulting in a 17% increase in the number of licenses issued in 2021. The launch of the report underscores ADGM’s further dedication to consolidating its standing as a transparent authority and a trusted world-class jurisdiction for conducting business.
To download and view the full report, please click here: RA Monitoring & Enforcement Strategy & Regulatory Priorities 2022-23.