Ensuring Compliance with ADGM Companies Regulations: Importance of Maintaining Essential Registers
We would like to draw your attention to an important aspect of the ADGM Companies Regulations that all businesses operating within the Abu Dhabi Global Market (ADGM) should adhere to the maintenance of essential registers.
Under the ADGM Companies Regulations, businesses are required to maintain specific registers to ensure transparency, accountability, and compliance with legal obligations. These registers serve as a vital source of information and play a crucial role in demonstrating the legitimacy and integrity of your company’s operations. They provide an accurate record of various aspects of your business and contribute to maintaining a clear and transparent corporate governance structure.
ADGM authorities have recently taken action against companies found to be non-compliant with these regulations. We strongly advise all our clients to take proactive measures to ensure the proper maintenance of the essential registers to avoid any potential repercussions.
The following are some of the essential registers that companies are mandated to maintain as per the ADGM Companies Regulations:
Essential registers mandated to maintain as per the ADGM Companies Regulations:
Maintaining these registers is not only a legal obligation but also a strategic practice that can positively impact your business. Regularly updated and accurate registers can help you:
- Demonstrate Compliance: Properly maintained registers exhibit your commitment to complying with ADGM regulations and global best practices, enhancing your reputation as a responsible and well-governed entity.
- Facilitate Due Diligence: When engaging in transactions or partnerships, potential investors, partners, or regulatory bodies may request access to these registers to assess your company’s credibility.
- Enhance Transparency: Transparent operations foster trust among stakeholders, including clients, investors, employees, and partners.
- Mitigate Risks: Accurate records reduce the risk of disputes, misunderstandings, and potential legal issues.
At MS, we are dedicated to assisting you in meeting these regulatory requirements. If you require any assistance with maintaining the preparation of these documents, contact us!
Thank you for entrusting MS as your partner. Together, we can ensure your business thrives in a compliant and transparent environment.
Disclaimer: Please be advised that the fine amounts specified in the register are subject to revisions based on any modifications made to the schedule of contraventions by the ADGM authorities. These revisions may arise due to updates in regulatory requirements, policy amendments, or other factors deemed necessary by the ADGM.