Have your say: Drafting Regulation for the Abu Dhabi Global Market

By Sam Willie

The National reports on a move by Abu Dhabi Global Market (ADGM), a soon to be financial market in the UAE, to release draft legislation and regulations for public comment prior to implementation. The proposed legislation covers topics ranging from corporate formation and bankruptcy law to labor and property rights. It is hoped that the commenting period will allow leading financial institutions and business minds to work hand-in-hand with the ADGM to construct an attractive venue for businesses. The draft legislation utilizes English common law as its legal base, with modifying statutes as needed.