Post by ADGM

ADGM’s Registration Authority (RA) has published amendments to its commercial legislation to further strengthen the regulatory framework within ADGM, enhance regulatory clarity, align with international standards and mitigate risks related to money laundering and terrorist financing. The amendments introduce clearer requirements across key areas, including restrictions on non‑profit activities, enhanced beneficial ownership obligations for trustees, an express prohibition on bearer shares, and updated filing deadlines to provide greater regulatory certainty. The legislative updates include amendments to regulations covering foundations, trusts, beneficial ownership, administrative and companies regulations, alongside the replacement of the Commercial Licensing Regulations with updated rules effective upon publication. The updated legislation is publicly available and can be found here: https://lnkd.in/dawbH4Xe