15 August 2023: Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority has announced that it has implemented amendments to its regulatory framework in relation to client classification, client assets, and certain conduct requirements relating to Investment Business.
The amendments affect client classification, marketing materials, the disclosure of fees and charges to Retail Clients, the treatment of Client Assets, and the Regulated Activity of Providing Custody.
They support the Market’s ongoing commitment to align with international best practices and provide a fair, well-regulated, and internationally-recognised platform that meets the needs of its markets. Among other amendments, the net asset requirement for existing Professional Clients, where the continuing eligibility of those clients must be assessed prior to providing new types of services or products has been increased.
The amendments affect the Financial Services and Markets Regulations and the Authority’s Conduct of Business, General and Glossary Rulebooks and have immediate effect.
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