• MIR 2.9 MIR 2.9 Financial crime and market abuse

    • MIR 2.9.1

      A Recognised Body must:

      (a) operate an effective market surveillance program and appropriate measures to identify, monitor, deter and prevent conduct which may amount to market misconduct, financial crime and money laundering on and through the Recognised Body's facilities; and
      (b) immediately report to the Regulator any suspected market misconduct, financial crime or money laundering, along with full details of that information in writing.

    • MIR 2.9.2

      A Recognised Body must have appropriate procedures and protections for enabling employees to disclose any information to the Regulator or to other appropriate bodies involved in the prevention of market misconduct, money laundering or other financial crime or any other breaches of relevant legislation.

    • MIR 2.9.3

      In determining whether a Recognised Body's measures are appropriate to reduce the extent to which its facilities can be used for a purpose connected with market abuse or financial crime, to facilitate their detection and to monitor their incidence, the Regulator may have regard to:

      (a) whether the rules of the Recognised Body enable it to disclose any information to the Regulator or other appropriate bodies involved in the detection, prevention or pursuit of market abuse or financial crime inside or outside the Abu Dhabi Global Market; and
      (b) whether the arrangements, resources, systems, and procedures of the Recognised Body enable it to:
      (i) monitor the use made of its facilities so as to obtain information regarding possible patterns of normal, abnormal or improper use of those facilities;
      (ii) detect possible instances of market abuse and financial crime, for example, by detecting suspicious patterns in the use of its facilities;
      (iii) communicate information about market abuse and financial crime promptly and accurately to appropriate organisations; and
      (iv) cooperate with all relevant bodies in the prevention, investigation and pursuit of market abuse and financial crime.