ADGM publishes paper on licensing of funds

Abu Dhabi Global Market, the capital’s financial free zone, published a consultation paper setting out its proposed fund passporting rules and regime, following the joint agreement with the Securities and Commodities Authority and the Dubai Financial Services Authority to enable the licensing and promotion of domestic funds across the UAE. DGM invites industry participants and the public to submit their comments on the proposed rules and regulations by January 3. The framework will enable collective investment funds established within ADGM to be promoted across the whole of the country, including in financial free zones.