ADGM introduces Regulatory Framework requiring use of CSPs by SPVs

The Abu Dhabi Global Market (“ADGM”) has introduced a regulatory framework governing the appointment of Company Service Providers (“CSPs”) by special purpose vehicles (“SPVs”) and foundations.

Unless qualifying for exemption, SPVs and foundations in the ADGM are now required to appoint a CSP which is licensed to operate in the ADGM under the new CSP regulations. Failure to comply with the new requirements by the below mentioned deadlines may result in fines.

 

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Daniel WoodManaging PartnerT +971 4 363 7912daniel.wood@walkersglobal.com
Ciaran BohnackerPartnerT +971 4 363 7901ciaran.bohnacker@walkersglobal.com
Tom CochranePartnerT +971 4 363 7913tom.cochrane@walkersglobal.com
Aaron BennettVice PresidentT +971 4 363 7915aaron.bennett@walkersglobal.com
Ruchika TandonSenior Corporate Services ExecutiveT +971 4 363 7911ruchika.tandon@walkersglobal.com