ADGM publishes its whistleblowing framework

ABU DHABI: Abu Dhabi Global Market (ADGM) the international financial centre of the UAE's capital, today announced the publication of its whistleblowing framework, a coordinated initiative between ADGM Authorities to sustain transparency, accountability and market integrity within the centre. The framework which is part of ADGM's progressive business environment complements its existing regulatory frameworks and encompasses: * Dedicated regulations that recognise and protect good faith reporting of 'protected disclosures'. *Availability of internal and external channels for reporting reasonably suspected breaches of ADGM legislation or financial crime. * Protection for anonymous reporting in good faith of reasonably suspected misconduct. *Non-retaliation protections integrated into existing employment regulations to guard employees of all ADGM entities against retaliation for speaking up. *Good governance requirements to support whistleblowing for all ADGM entities. * Written policies and procedures for firms licenced by the FSRA, designated non-financial businesses or professions (DNFBPs) and large ADGM entities. The endeavours of ADGM market participants to operate in line with the highest global standards of business practice are also reflected strongly within the framework. Entities within the centre will implement proportionate arrangements to support effective whistleblowing by 31st May 2025. These arrangements need to be captured in writing by companies that are over a certain size or that carry additional financial crime risks. The whistleblowing framework provides a solid foundation that ADGM continuously builds upon and strengthen, ensuring the highest international business standards are upheld. Source: Emirates News Agency