The Whistleblowing Regulatory Framework enhances corporate governance requirements to support whistleblowing across all ADGM entities.
Advertise Abu Dhabi Global Market Today, about publishing Its regulatory framework for reporting violations, an initiative that was reached through the integration of the efforts of the Abu Dhabi Global Market authorities with the aim of maintaining the principles of transparency, accountability and integrity within the international financial center.
This regulatory framework, which is part of the advanced work environment in Abu Dhabi Global Market, complements the existing regulatory frameworks and includes specialized systems that enhance:
- Culture and requirements of “protected disclosures”,
- Clear internal and external channels for reporting suspected potential violations of ADGM legislation or financial crimes,
- Protection for unknown, good-faith reporting entities of suspected misconduct,
- Incorporating non-retaliation protection measures into existing employment systems to protect employees of ADGM entities from any retaliatory measures as a result of disclosure and reporting of violations,
- Corporate governance requirements to support whistleblowing across all ADGM entities.
It also includes policies and procedures for FSRA-licensed firms, designated non-financial businesses and professions, and large firms in ADGM.
The new regulatory framework is a tangible demonstration of the ongoing efforts and endeavours of all entities operating in ADGM to implement the highest international standards of business conduct, with entities operating in ADGM to have appropriate procedures in place to support effective whistleblowing by 31 May 2025.
Additional requirements apply to firms above a certain size or those that may be at higher risk of financial crime.
The whistleblowing framework establishes a solid foundation on which ADGM can build and continually develop, to ensure that the highest international standards of business conduct are maintained.
