Abu Dhabi – Mubasher: The Abu Dhabi Global Market (ADGM), alongside the ADGM Financial Services Regulatory Authority (FSRA) and the ADGM Registration Authority (RA), on Tuesday issued a public consultation paper calling on the public for feedback and comments pertaining to enhancements to its legislative framework.
The enhancement involves the rules and regulations in relation to funds, ADGM said in a statement.
The proposed amendments include enhancing the FSRA Fund Rules “to facilitate the establishment of private real estate investment trusts (REITs) as an Exempt Fund or Qualified Investor Fund,” the statement showed.
Amendments also entail enhancing disclosure “of Investment Company shareholdings to the ADGM RA under the Companies Regulations of 2015, as well as minimising the public disclosure of unit holders’ information.”
Finally, aligning the description of the Regulated Activity of Managing a Collective Investment Fund in line with international practice.
These enhancements are part of ADGM’s ongoing commitment to improve and bolster its framework so as to balances risk-based regulations with market participants’ needs.
