ADGM seeks public opinion on ownership rules

Dubai: The Abu Dhabi Global Market (ADGM) said on Wednesday its registration authority has issued a public consultation paper inviting public feedback and comments to codify existing corporate beneficial ownership and control practices in line with international standards.

The new regulations will implement new transparency measures on prevention of the use of the legal persons for the purpose of money laundering and terrorism financing, the ADGM said in an emailed statement.

The regulations will create a register of beneficial owners and provide for specific safeguards on accessibility to this register, it added.