Overview Jurisdiction Al Reem Expansion Authorities Initiatives ADGM Academy Arbitration Centre Overview Business areas Setting up Operating in Public registers Legal framework Regulation Awareness Collaboration Ecosystem ADGM Sustainable Media News Events Spotlight Podcasts Publications Support Make an enquiry Whistleblowing FAQs
A platform that offers limitless opportunities and paves the way for a brighter future

Abu Dhabi boasts first-class infrastructure and unparalleled global connectivity, making it a premier international destination. Its exceptional qualities make it an ideal location to live, work, and conduct business.

Read about Abu Dhabi's lifestyle
Latest initiatives ADGM Announces Incentive Initiative for Existing Al Reem Island Businesses Transitioning to ADGM ADGM Marks Its Presence on Al Reem by Hosting its First Community Event on the Island
Providing an environment that empowers the future

A financial centre that provides transparency, efficiency, and integrity, through its progressive frameworks, future focused infrastructure, all within a familiar independent legal jurisdiction – ADGM is the perfect platform for success.

Find out how to set up in ADGM
Latest news 24 French Asset Management Firms With $1.6 Trillion AUM Convene for Second UAE – France Investor Meetup ADGM's Financial Regulator fines Sarwa Digital Wealth (Capital) Limited USD 122,500 for making an Offer of Securities in ADGM without Approved Prospectus
Preserve our economies and environment for future generations

ADGM, the centre for a transparent and thriving sustainable finance ecosystem.

More about our Sustainability vision
Highlights ADGM, the Region's Leading Climate Finance Hub, Announces its Role as Principal Partner at COP28 ADGM Implements its Sustainable Finance Regulatory Framework
Stay up-to-date with our wide range of available resources

Our community of business professionals, entrepreneurs, and investors can depend on ADGM to provide timely news and reliable insights.

Read our latest news articles
Upcoming events FSRA Supervision Outreach Session ADGM's 4th Annual FATCA and CRS Awareness Session LINK Networking Series
We are here to help

At ADGM, we offer various support options, including contact details, FAQs, enquiry forms, and a whistleblowing form.

View available support options
Some of our FAQ topics
  • Getting started
  • Foundations regime
  • Resolution for incorporation
  • Existing auditors
  • New auditors
  • ACCESSADGM
  • Announcements

    service

    ADGM’s Registration Authority cancels the commercial licence of Terra Nova Holdings Ltd

    ADGM RA 21/09/2023

    The Registration Authority (RA) of Abu Dhabi Global Market (ADGM) has taken enforcement action against Terra Nova Holdings Ltd (Terra Nova) by cancelling its ADGM commercial licence to carry out business activities in or from ADGM.

    The RA’s decision to cancel Terra Nova’s licence was based on concerns relating to:

    • Terra Nova’s failure to meet the general conditions of its licence and failure to maintain adequate accounting records as required under Companies Regulations 2020;
    • Terra Nova’s annual accounts failing to give fair representation for the years 2019, 2020 and 2021; and
    • The various risks posed by Terra Nova to ADGM.

    Accordingly, Terra Nova’s commercial licence was cancelled by the RA on the grounds that Terra Nova is no longer considered fit and proper to hold a licence to conduct business activities in or from ADGM. The decision comes in line with protecting the interests of ADGM.

    ADGM-licenced companies must remain fit and proper, maintain adequate and reliable accounts and accounting records, be transparent in their dealings with the RA and mitigate any risks associated with their business activities.

    Hamad Sayah Al Mazrouei, Chief Executive Officer of the Registration Authority said: “ADGM licenced companies must provide full visibility of their true financial position to the RA, where required. When reasonable concerns exist about the source of assets, legitimacy of business activities or failure to meet conditions of the ADGM licence, the RA will take appropriate action, including, where necessary, licence cancellation to protect the interests of ADGM, its participants and stakeholders”.

    A copy of the RA’s Final Notice is available on this link: Registration Authority (RA) Regulatory Actions.