The Registration Authority, in addition to registering and licensing legal entities, is the commercial regulator of the ADGM, responsible for monitoring and, where necessary, enforcing compliance with ADGM’s commercial legislation. The Registration Authority is also responsible for regulating Auditors and Insolvency Practitioners and administering the UAE’s Economic Substance Regulation (ESR) in the ADGM.
ADGM’s commercial legislation covers a broad range of areas including companies law, commercial licensing, beneficial ownership, insolvency, employment, and auditors’ requirements.
Under an agreement with the Financial Services Regulatory Authority, the Registration Authority is also responsible for monitoring compliance with anti-money laundering requirements by ADGM licensed Designated Non-Financial Businesses and Professions (DNFBPs), such as Company Service Providers.
The Registration Authority strives to prevent and deter conduct that may cause harm to ADGM businesses, their clients and / or investors via transparent and risk based regulatory interventions that are appropriate and proportionate to the circumstances.
The fair and proportionate use of the Registration Authority’s enforcement powers plays a critical role in fulfilling the objectives of the ADGM. The Registration Authority will act swiftly and decisively to address and deter conduct that may adversely affect the integrity of the ADGM.
More information concerning the RA’s approach to regulatory actions and enforcement can be found in the RA Decision Procedures and Enforcement Manual.