• MIR 7.5 MIR 7.5 Supervision

    • MIR 7.5.6 MIR 7.5.6

      The rules relating to the form and method of notification in Rule 5 also apply to Non-Abu Dhabi Global Market Recognised Bodies.

      • MIR 7.5.7 MIR 7.5.7

        Non-Abu Dhabi Global Market Recognised Bodies may apply to the Regulator for a waiver of any of the notification rules. The procedure is the same as that for applications from Recognised bodies.

        • MIR 7.5.1 MIR 7.5.1

          A Non-Abu Dhabi Global Market Recognised Body shall provide the Regulator with an annual report which contains the information set out in Rule 7.5.2. The period covered by such a report starts on the day after the period covered by its last report or, if there is no such report, after the making of the recognition order recognising the Non-Abu Dhabi Global Market Recognised Body as such, and ends on the date specified in the report or, if no date is specified, on the date of the report. If a Non-Abu Dhabi Global Market Recognised Body changes the period covered by its report, it should ensure that the first day of the period covered by a report is the day immediately following the last day of the period covered by the previous report. Copies of the report should be sent to the Regulator within two months after the end of the period to which it relates.

          • MIR 7.5.4

            Any notice to be given or information to be supplied under these notification rules must be supplied in English, and any document to be provided must be accompanied, if not in English, by an accurate English translation.

          • MIR 7.5.2 MIR 7.5.2

            A Non-Abu Dhabi Global Market Recognised Body must, in the circumstances noted, notify the Regulator of the following information:

              Event Timing Information requirement
            1. An event occurs which is likely to affect the Regulator's assessment of whether it is satisfied as to the Non-Abu Dhabi Global Market Recognition Requirements (see Rule 7.5.3). As soon as reasonably practicable. Particulars of the relevant event.
            2. A Non-Abu Dhabi Global Market Recognised Body amends its:
            (a) memorandum and articles of association or any similar or analogous documents; or
            (b) chairman or president, or chief executive (or equivalent).
            In its next annual report (or first annual report, if not notified to the Regulator during application process). Particulars of the change and effective date.
            3. Disciplinary action (or any similar or analogous action) is taken against the Non-Abu Dhabi Global Market Recognised Body by any supervisory authority in its home territory, whether or not that action has been made public in that territory. As soon as reasonably practicable. Particulars of the disciplinary action taken.
            4. Publication of annual report and accounts. Within fourteen days of publication or approval of the auditor, whichever is the sooner. A copy of the annual report and accounts.
            5. A Non-Abu Dhabi Global Market Recognised Body proposes to change its address in the Abu Dhabi Global Market for the service of notices or other documents required or authorised to be served on it or the address of its head office. Fourteen days before the change is effective. The new address.
            6. A Non-Abu Dhabi Global Market Recognised Body has notice that any license, permission or authorisation which it requires to conduct any Regulated Activity in its home territory has been or is about to be revoked or modified in any way which would materially restrict the Non-Abu Dhabi Global Market Recognised Body in performing any Regulated Activity in its home territory or in the Abu Dhabi Global Market. As soon as practicable.
            (a) particulars of the license, permission or authorisation which has been or is to be revoked or modified, including particulars of the Non-Abu Dhabi Global Market Recognised Body's Regulated Activities to which it relates;
            (b) an explanation of how the revocation or modification restricts or will restrict the Non-Abu Dhabi Global Market Recognised Body in carrying on any Regulated Activity in its home territory or in the Abu Dhabi Global Market;
            (c) the date on which the revocation or modification took, or will take, effect and, if it is a temporary measure, any date on which, or any conditions that must be met before which, it will cease to have effect; and
            (d) any reasons given for the revocation or modification.
            7. A Non-Abu Dhabi Global Market Recognised Body admits for the first time a Member whose head or registered office is in the Abu Dhabi Global Market. As soon as practicable.
            (a) notice of that event;
            (b) the address of the new Member.
            8. A Non-Abu Dhabi Global Market Recognised Body decides to put a Member into default. As close to when such a decision is taken by a Non-Abu Dhabi Global Market Recognised Body as practicable.
            (a) notice of that event;
            (b) the name of the Member and (where relevant) the class of Membership;
            (c) the reasons for that decision; and
            (d) the names of any other exchange, Clearing house or auction platform on which, to the best of that Non-Abu Dhabi Global Market Recognised Body's knowledge, that Member clears business or transacts for, or in respect of, its clients.
            9. A Non-Abu Dhabi Global Market Recognised Body issues a consultation on proposed changes to its rules or procedures. As soon as practicable. A copy of the consultation paper and accompanying documentation.
            10. Changes to a Non-Abu Dhabi Global Market Recognised Body's rules or procedures become effective. As soon as practicable. A copy of the amended rules or procedures.
            11. A Non-Abu Dhabi Global Market Recognised Body issues guidance on or a circular relating its rules or procedures. As soon as practicable. A copy of the guidance or circular.

            • MIR 7.5.5

              An English glossary of technical or statistical terms may be sufficient to accompany tables of statistical or financial information.

            • MIR 7.5.3

              The following events are examples of events likely to affect an assessment of whether a Non-Abu Dhabi Global Market Recognised Body is continuing to satisfy the Non-Abu Dhabi Global Market Recognition Requirements:

              (a) significant changes to any relevant law or regulation in its home territory, including laws or regulations:
              (i) governing exchanges or Clearing houses;
              (ii) designed to prevent insider dealing, market manipulation or other forms of market abuse or misconduct;
              (iii) designed to protect the interests of clients of Members of the Non-Abu Dhabi Global Market Recognised Body, or of a class of bodies which includes the Non-Abu Dhabi Global Market Recognised Body;
              (iv) which affect:
              A. the ability of the Non-Abu Dhabi Global Market Recognised Body to seek information (whether compulsorily or voluntarily) from its Members, including information relating to the price and volume of transactions, the identity of parties to transactions, and the movement of funds associated with transactions; and
              B. the ability of the Non-Abu Dhabi Global Market Recognised Body to pass such information, on request, to Global Market authorities;
              (b) significant changes to its internal organisation or structure;
              (c) significant changes to the practices of the Non-Abu Dhabi Global Market Recognised Body applying to any Regulated Activities carried on by it in the Abu Dhabi Global Market; or
              (d) any other event or series of events in relation to the body which:
              (i) affects or may significantly affect cooperation between the Non-Abu Dhabi Global Market Recognised Body, or its supervisor in its home territory, and the Regulator;
              (ii) has or may have a substantial effect on the structure of the markets in which the body operates;
              (iii) brings about or may bring about a substantial change in the nature and composition of its Membership in the Abu Dhabi Global Market; or
              (iv) brings about or may bring about a substantial change in the Regulated Activities undertaken by it in the Abu Dhabi Global Market.