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ADGM RA: 27 Jan 2022
The Registration Authority (RA) of Abu Dhabi Global Market (ADGM) has taken regulatory action against Areej Al Noor General Trading L.L.C (“Areej Al Noor”), fining it USD 2,000 for trading from its retail store at The Galleria Al Maryah Island (“The Galleria”) without a valid ADGM commercial license.
Areej Al Noor owns and operates Jose Eber, a brand operating in The Galleria. In 2020, Areej Al Noor obtained a temporary permit from the RA in order to conduct commercial activities from this location.
However, when this temporary permit expired, Areej Al Noor did not promptly obtain the required ADGM commercial license in order to continue to trade from its store in compliance with ADGM commercial legislation.
Jose Eber continued to trade from The Galleria without the required commercial license and, notably, after the RA repeatedly warned Areej Al Noor to cease all commercial activities from this location until it obtained the license. These are significant contraventions of ADGM commercial legislation.
Based on the above, the RA made a decision to fine Areej Al Noor USD 2,000 which has been imposed by way of a Final Notice.
A copy of the Registration Authority’s Final Notices can be found on the ADGM website URL: Registration Authority Imposes Fine for Trading Without a Licence.
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