Abu Dhabi Global Market (ADGM), a key financial hub in the UAE, has introduced a new whistleblowing framework to strengthen the market integrity. This initiative aims to promote transparency and accountability across ADGM entities and is a combined initiative of the ADGM authorities. The framework outlines a comprehensive system for reporting suspected breaches of ADGM laws or financial crimes while ensuring protection for whistleblowers who come forward with information about misconduct.

Key Features of the ADGM Framework

Clear Regulations: ADGM has established specific rules to protect and encourage the reporting of ‘protected disclosures’ made in good faith.

Reporting Channels: Both internal and external reporting channels are available for reporting suspected breaches of ADGM laws or financial crimes.

Anonymous Reporting: Protection is ensured for those who report misconduct anonymously and in good faith.

Non-Retaliation: Stricter employment regulations safeguard employees across all ADGM entities from retaliation for whistleblowing.

Governance Standards: All ADGM entities must adhere to good governance requirements that support effective whistleblowing practices.

Written policies and procedures: Required for firms licensed by the Financial Services Regulatory Authority, designated non-financial businesses or professions, and large entities within the financial centre.

Requirements for ADGM Entities

• By May 31, 2025, all entities within ADGM must establish proportionate systems to facilitate whistleblowing.
• These systems must be documented, particularly for larger entities and those with higher financial crime risks.

This framework underscores ADGM’s commitment to uphold global business standards and continuously improve its regulatory environment. It provides a solid foundation for maintaining trust and integrity in the financial markets.