ADGM publishes Uncertificated Securities Rules

The Abu Dhabi Global Market (ADGM) has announced the enactment of the Uncertificated Securities Rules 2021 as well as amendments to the Insolvency Regulations 2015, Companies Regulations 2020 and Financial Services and Markets Regulations 2015.

The new Uncertificated Securities Rules and associated changes to the Insolvency Regulations and Financial Services and Markets Regulations will allow ADGM companies to maintain a register of issued securities in electronic form and delegate such responsibility to a third party share registrar, either inside or outside ADGM, as may be needed to perform clearing and settlement procedures for public, listed ADGM companies.

The amendments to the Companies Regulations will also make some limited changes to the enhanced disclosure requirements for private companies, balancing disclosure requirements with international reporting and disclosure standards while remaining business friendly. Finally, the amendments to the Companies Regulations will provide greater clarity for ADGM companies with respect to restating their share capital in currencies other than U.S. Dollars.

The Uncertificated Securities Rules and the amendments referred to above are publicly available and have been uploaded to the ADGM website. Please visit the dedicated webpage here: ADGM Regulations & Rules (Uncertificated Securities Rules).