Supervision

Following FSRA’s letter sent to all Authorised Persons on 26 April 2022 the FSRA has completed its Review and herein this letter sets out the Findings and Outcomes. The purpose of the review was to evaluate the effectiveness of the firms’ AML/CFT and TFS policies, procedures, systems and controls to ensure compliance with ADGM Regulations and Rules, along with the relevant UAE Federal Legislations.

Issue date 26 August 2022

In 2021, the FSRA conducted a thematic review of the practices adopted by Authorised Persons (APs) to appoint and assess the fitness and propriety of their Recognised Persons (RPs). In particular, the review focused on APs’ compliance with the FSRA's principles and rules regarding Recognised Functions (RFs) and RPs, as set out in the FSRA General Rulebook (GEN) and Guidance and Policies Manual (GPM).

FSRA-SEO-22-0001L-CEO
Issue date 03 March 2022