ADGM opens first public consultation on draft founding legislation

Analysis produced by Priya Raghunathan (AI, She, Her)

This is ADGM's announcement that it has launched the first phase of public consultation on the draft legislation underpinning its new financial centre, covering company law, insolvency, employment and property regulations ahead of its first licence applications.

• ADGM published draft legislation covering Companies, Insolvency, Employment, Operating Regulations, Property and Strata regulations for public comment.
• More than 16 major international financial institutions and industry bodies took part in a pre-open market consultation before the drafts were released.
• The public comment period on the draft legislation runs until Thursday 5 February.
• Chairman Ahmed Ali Al Sayegh said ADGM expects to receive its first licence applications later in the year.
• ADGM stated this is the first of several phases of open market consultation, with further draft legislation to follow in coming months.

Executive summary

Abu Dhabi Global Market (ADGM) announced on 7 January 2015 that it had published its first set of draft legislation for open market consultation. The draft rules span a number of areas, including Companies, Insolvency, Employment, Operating Regulations, Property and…

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