Ready for ADGM's 2024 regulations

FAQ

What's ADGM, and who does it regulate?

Abu Dhabi Global Market is a financial free zone in Abu Dhabi, set up in 2013 and operating since 2015, with legislation based on English common law. Its Registration Authority registers companies, and its Financial Services Regulatory Authority (FSRA) supervises financial firms. The whistleblowing regulations apply to every entity registered there, not to companies on the UAE mainland.

What do the ADGM regulations cover?

They set out how ADGM entities must receive and protect disclosures of wrongdoing, and how reporters are shielded from retaliation. They came into force in July 2024, and entities had until 31 May 2025 to put their arrangements in place. Protection from retaliation sits in the ADGM Employment Regulations.

Which ADGM entities need a written policy?

Four categories: firms regulated by the FSRA, designated non-financial businesses and professions, DLT Foundations, and Large Establishments. An entity counts as a Large Establishment once it passes USD 13.5 million in turnover or assets and has over 35 employees in a financial year.

Do the regulations require anonymous reporting?

They don't require an anonymous channel, but a person doesn't have to identify themselves to be protected. FaceUp lets a reporter choose anonymity and still take part in follow-up.

How long do records need to be kept?

At least six years from the date all matters relating to the disclosure are closed. FaceUp keeps each case and its history until you delete it.

What happens if an entity doesn't comply?

Penalties range from a public censure to financial penalties, and a license can be suspended or withdrawn.

We already have a reporting channel. Is it enough?

It depends on whether it's confidential, accessible, and properly recorded. Many firms started with an email inbox or a basic form. FaceUp gives you a dedicated channel, a tracked process from report to decision, and six-year record keeping, which makes it easier to show your arrangements are effective.

Can one account cover several ADGM entities?

Yes. Each entity can have its own reporting form, routing, and access, and your compliance team oversees them all from one account.

Does using FaceUp make us compliant?

FaceUp gives you the channels, case handling, access control, and records the regulations describe. Compliance itself, including your policy and how you act on reports, remains your organization's responsibility.