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ADGM Legal Framework

  • ABU DHABI GLOBAL MARKET
    • FEDERAL LAW NO (8) OF 2004
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    • FEDERAL DECREE NO (15) OF 2013
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    • CABINET RESOLUTION NO (4) OF 2013
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    • ABU DHABI LAW NO (4) OF 2013
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    • ADGM LEGAL FRAMEWORK
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    • ADGM COURTS PROCEDURES
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    • GUIDANCE & POLICY STATEMENTS
      • FSRA Confidentiality Policy
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      • Guidance & Policies Manual (GPM)
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      • FinTech Regulatory Laboratory Guidance
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      • Supplementary Guidance — Regulatory Framework for Fund Managers of Venture Capital Funds
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      • Guidance — Regulation of Digital Security Offerings and Crypto Assets under the Financial Services and Markets Regulations
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      • Guidance — Regulatory Framework for Private Financing Platforms
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      • Supplementary Guidance — Authorisation for Investment Management Activities
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      • Supplementary Guidance — Authorisation for Dealing Activities
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      • Guidance — Regulation of Crypto Asset Activities in ADGM
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      • Supplementary Guidance — Authorisation of Digital Investment Management ("Robo-advisory") Activities
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      • Guidance – Regulation of Digital Securities Activity in ADGM
        • INTRODUCTION
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        • BACKGROUND
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        • REGULATORY TREATMENT OF DIGITAL SECURITIES
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        • MARKETS RULES — OFFERS OF SECURITIES TO THE PUBLIC
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        • MARKETS RULES — LISTING RULES
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        • DIGITAL SECURITIES & TRADING VENUES
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        • DIGITAL SECURITIES SETTLEMENT
          • Recognised Clearing Houses (RCHs)
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          • Digital Settlement Facilities (DSFs)
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        • OCAB HOLDERS — MIGRATION TO DIGITAL SECURITIES ACTIVITIES
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        • CONVENTIONAL MARKET INFRASTRUCTURES & DIGITAL SECURITIES
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        • DIGITAL SECURITIES — INTERMEDIARIES
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        • DIGITAL SECURITIES — SPECIFIC REGULATORY CONSIDERATIONS
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        • STABLECOINS
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        • APPLICATION PROCESS
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        • FEES
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      • Guidance —Developing and using APIs in ADGM
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    • PUBLIC CONSULTATION PAPERS
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    • NOTICES OF PUBLICATION
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Sep 5 2019 onwards

DIGITAL SECURITIES SETTLEMENT


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50) This section of the Guidance sets out the two broad types of entities that are able to provide Digital Securities settlement facilities to RIEs and MTFs, as allowed for by MIR Rules 3.8 and 4.3. In choosing a RCH or DSF to utilise for custody operations (MIR 2.10) or settlement (MIR 3.3), a RIE or MTF can only use a RCH or DSF when the FSRA has been able to determine that the relevant settlement facility allows the RIE or MTF to meet its MIR obligations. Further discussion regarding the FSRA's policy position and expectations in relation to these entities is set out below.

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