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ADGM: 07 Mar 2024
Abu Dhabi Global Market (ADGM), the International Financial Centre of the UAE’s capital, today announces the publication of a Consultation Paper on a proposed whistleblowing framework, reinforcing the continuous emphasis on transparency, accountability and market integrity from ADGM and its Regulatory Authorities. The framework complements the ADGM’s existing regulatory frameworks and builds upon the publication of ADGM’s Guiding Principles on Whistleblowing in December 2022.
The measures in the paper aim to support the endeavours of ADGM market participants to operate in line with the highest global standards of business practice. As an international financial centre, building and maintaining frameworks that support a culture of speaking up with confidence are part of ADGM’s progressive business environment, nurturing transparency and investor confidence.
The proposals encompass:
The framework requires entities operating within ADGM to implement arrangements that are proportionate to the scale and complexity of their operations to support effective whistleblowing. Additional requirements apply to companies over a certain size or that carry additional financial crime risks.
For the Consultation Paper and regulatory amendments, please click here: Consultation Paper No. 2 of 2024 – Proposals for a Whistleblowing Framework for the Abu Dhabi Global Market.
For ADGM’s Guiding Principles on Whistleblowing, please click here: Proposed Whistleblowing Regulations.
The Consultation Paper is open for feedback until 30 April 2024.
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