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ADGM FSRA: 18 December 2023
The Financial Services Regulatory Authority (“FSRA”) of Abu Dhabi Global Market (“ADGM”) has announced revisions to its fees framework. The revised fees have been finalised following a public consultation in October 2023 and more appropriately reflect the work and costs involved in the FSRA meeting its statutory objectives, which include:
Alongside these revisions, the FSRA has consolidated the categories of Controlled Functions and Recognised Functions. The consolidation is aligned with best practices whereby appointments to all critical roles within an authorised firm are subject to approval by the relevant regulator.
The changes will come into effect on 1 January 2024.
For the legislation and guidance, click here:
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