Supporting and facilitating all financial activities in ADGM
ADGM believes that a fair, efficient and transparent marketplace is fundamental in meeting the dynamic and growing needs of the Abu Dhabi economy and global markets. ADGM’s Financial Services Regulatory Authority was established to advocate a progressive financial services environment and uphold the integrity of the whole international financial centre by managing any potential risks exposure and undesirable impact.
FSRA's policies and the adherence to ADGM's rules and regulations, which are modelled on and consistent with internationally recognised standards, ensure that financial entities operate with certainty, market participants thrive in an equal level-playing environment, and the best interests of investors are safeguarded.
Offering the highest level of regulatory transparency and engagement, the FSRA practices an open and progressive approach in its regulatory operations, through public consultations, engagements on introduction and amendments of rules and policies.
"We are committed to developing a vibrant, dynamic and sound international financial services centre. ADGM is underpinned by best-in-class regulatory framework that is benchmarked against international standards and practices and a regulatory agency that is recognised for its professionalism and engagement with domestic and international stakeholders."
Richard Teng
CEO, Financial Services Regulatory Authority
Globally recognised financial services regulator
ADGM's FSRA continues to build bridges with fellow regulators and leading industry bodies, foster collaboration and effective cross-border co-operation.
Memoranda of Understanding
The FSRA is a signatory to 88 bilateral MoUs with foreign regulators and international financial centres. FSRA became signatory to the IOSCO MoU in May 2017 and to the IAIS MMoU in December 2018. Its funds regime and its confidentiality regime are fully recognised by the European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) respectively.
Memberships and Associations
The FSRA is a member of the International Organisation of Securities Commissions (IOSCO); Basel Committee Consultative Group (BCG); International Association of Insurance Supervisors (IAIS); Islamic Financial Services Board (IFSB); World Alliance of International Financial Centres (WAIFC); International Network of Financial Centres for Sustainability (FC4S); and Sustainable Banking Network (led by IFC-Global Bank).
Conducting financial services in ADGM
Committed to operating a fair, efficient and responsive regulatory environment for its market participants and stakeholders both in the UAE and internationally.
Obligations of Financial Services Entities
Financial services entities registered in ADGM need to meet specific obligations set out by the FSRA. These obligations are in addition to standard obligations that all ADGM registered entities are required to meet.
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Supervision
Playing a critical role in fulfilling the objectives of ADGM, the FSRA acts swiftly and decisively to address and deter conduct that may adversely affect the integrity of the ADGM or the stability of the financial services industry in the ADGM.
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Enforcement
The FSRA adopts a risk-based approach to regulation, focusing our efforts on those activities that we perceive as posing the greatest risk to the furtherance of our objectives.
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Independent Review Bodies
Two independent bodies, the Regulatory Committee and the Appeals Panel, were created by ADGM FSRA Regulations in 2015 to promote proper observance of due process. Learn more about how these bodies help ensure consistency, transparency and proportionate use of the FSRA's powers.
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Complaints
The FSRA assesses regulatory complaints concerning potential contraventions of regulations and rules that the FSRA administers, potential misconduct by any person that it regulates, or any conduct that will prevent the FSRA from meeting its objectives, including any activities that may cause damage to the reputation of ADGM.
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Financial Crime Prevention
ADGM is committed to promoting sound practices in financial crime compliance which include AML/CFT, and compliance with international tax reporting obligations including FATCA and CRS.
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FSRA General Application Process
The Financial Services Regulatory Authority welcomes financial services firms and institutions who wish to establish their presence in Abu Dhabi’s financial free zone.
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Authorisation and Supplementary Forms
Applicant will be required to fill out the requisite forms when making an application to conduct financial services regulated activities in ADGM. The forms include guidance notes and should be read in conjunction with the relevant legislation.
See detailsLaws, Regulations and Rules
A sound regulatory framework of clear and transparent rules, benchmarked against international standards and global best practices.
Federal Legislation
The Federal Legislation, including the UAE Constitution, established ADGM as a financial free zone.
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Abu Dhabi Legislation
All governance, legislative, and regulatory framework and activities to be carried on in ADGM is set out by Abu Dhabi Law No. 4 of 2013.
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FSRA Regulations and Rules
Financial Services and Markets Regulations (FSMR) establishes the legislative and regulatory framework for financial services in ADGM, and has been broadly modelled on the UK's Financial Services and Markets Act 2000 (FSMA) and other related legislation.
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FSRA Guidance and Policy Statements
ADGM and its three Authorities issue relevant Guidance, based on English common law, to communicate and explain the principles that underpin the legal framework.
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FSRA Public Consultations
ADGM informs the public and marketplace about its plans and invites comments on proposed initiatives and amendments to rules through public consultations.
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Waivers and Modifications
An Authorised Person may apply to the FSRA for a waiver or a modification of specific regulatory requirements. The firm shall submit written details of the reason for the request and all relevant facts to support the application.
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FSRA Notices of Publication
The FSRA has and will continue to issue relevant notices and circulars to explain changes and updates to stakeholders.
See detailsFSRA Public Register
The public can access vital information about a financial services entity or related individuals including contact details and the types of financial services activities an entity can carry out in ADGM.
