Wael Jabsheh Quoted by Thomson Reuters on Abu Dhabi Global Market Regulation

For its article “Abu Dhabi Global Market to boost investigative powers,” Thomson Reuters Regulatory Intelligence quoted Wael Jabsheh, co-partner in charge of Akin’s Abu Dhabi office. The article reports on the Regulatory Authority (RA) of the Abu Dhabi Global Market (ADGM). The ADGM looks to solidify its investigative powers following a consultation to bolster its ability to conduct interviews, enter premises, inspect documents, take evidence and impose fines.

In the article, Wael commented that the proposed changes signal a pragmatic approach to strengthening the authority of the RA over potential offenders, “These new provisions will enhance the RA’s ability to effectively address potential non-compliance. While the ADGM is well-known for regulating through consultation rather than sanction, it still needs the tools to efficiently investigate suspected breaches and to ensure accountability within the market.”

Wael continued, “The proposed changes underscore the ADGM’s commitment to enforcement bodies, and to maintaining public confidence in the ADGM and its institutions. This is a positive development and is consistent with prevailing global trends in regulatory enforcement.”