• Chapter 2 Chapter 2 The Appeals Panel

    • 227. Structure of the Appeals Panel

      (1) The Board —
      (a) establishes the Appeals Panel and shall appoint up to a maximum of seven persons for fixed terms to serve as the President and other members of the Appeals Panel; and
      (b) may reappoint the President or any of the members for further fixed terms.
      (2) The Appeals Panel shall be composed of members who —
      (a) are independent of each of the Board, the Regulator, the Regulatory Committee, the Courts and any other Director, officer or employee of any Abu Dhabi Global Market authority or any other body established under the ADGM Founding Law; and
      (b) have relevant qualifications, expertise and experience in the regulatory aspects of financial services and related activities.
      (3) The Appeals Panel shall have a President.
      (4) The Board shall not remove any member of the Appeals Panel without Just Cause.

    • 228. Jurisdiction and Role of the Appeals Panel

      (1) Any decision, order or direction made by the Regulatory Committee in accordance with section 225 may be appealed by the Regulator or by the person against whom such decision, order or direction was made, to the Appeals Panel for a full merits review.
      (2) The Appeals Panel has jurisdiction to do as it deems necessary for, or in connection with, or reasonably incidental to, performing its functions and exercising its powers conferred for the purposes of this Chapter, including the giving of directions as to practice and procedure to be followed by the Appeals Panel in the hearing and/or determination of appeals of decisions, orders or directions of the Regulatory Committee.
      (3) The President of the Appeals Panel may establish one or more sub-panels to exercise the jurisdiction and perform the role of the Appeals Panel.
      (4) The President of the Appeals Panel, or the head of a sub-panel established pursuant to subsection (3), may make any procedural order or order granting interim relief that the Appeals Panel has jurisdiction to make.
      (5) For the purposes of an appeal made under subsection (1), the President of the Appeals Panel or the head of a sub-panel established pursuant to subsection (3) —
      (a) may appoint one or more persons, who shall be independent and an expert in their field, to assist the Appeals Panel (or sub-panel (as the case may be)) in deciding any of the issues arising in the appeal, including assistance in the examination of the parties' witnesses; and
      (b) shall provide the parties with an opportunity to make submissions on the expert's assistance and shall record in its decision the issues on, and the extent to, which such assistance was relied upon by the Appeals Panel (or the sub-panel (as the case may be)).
      (6) The Appeals Panel may make rules of procedure governing the commencement, hearing and determination of any appeal under this Chapter, including rules as to —
      (a) evidence;
      (b) the manner in which the Appeals Panel's powers may be exercised, having regard the limits of the Appeal Panel's jurisdiction;
      (c) the manner in which conflicts of interest of members of the Appeals Panel (or any sub-panel (as the case may be)) may be prevented;
      (d) the manner in which an Appeals Panel appointed expert may provide assistance to the Appeals Panel;
      (e) notification to the Chief Executive of the commencement of an appeal under this Chapter;
      (f) notification to the Chief Executive and to the Chairman of the Regulatory Committee of an application for judicial review of a decision of the Appeals Panel (or sub-panel (as the case may be)) to the Court of First Instance pursuant to the Courts, Civil Evidence, Judgments, Enforcement and Judicial Appointments Regulations 2015; and
      (g) whether, and if so, the manner in which, the Chief Executive may appear and be heard in an appeal before the Appeals Panel.
      (7) Proceedings and decisions of the Appeals Panel shall be heard and given in public unless —
      (a) the Appeals Panel hearing a matter orders otherwise; or
      (b) the rules of procedure of the Appeals Panel provide otherwise.
      (8) Proceedings before the Appeals Panel shall be determined on a balance of probabilities.
      (9) A decision of the Appeals Panel may be taken by a majority.
      (10) An application for judicial review of a decision of the Appeals Panel may be made to the Court on the grounds that the decision is wrong in law or is in excess of the Appeal Panel's jurisdiction.

    • 229. Powers of the Appeals Panel to hear and determine proceedings

      (1) The Appeals Panel may, for the purposes of any proceedings commenced under section 228
      (a) stay the decision of the Regulator to which the appeal relates and any related steps proposed to be taken by the Regulator until the Appeals Panel has heard and determined the appeal;
      (b) consider any evidence relating to the decision of the Regulatory Committee to which the appeal relates, whether or not such evidence was available to the Regulatory Committee at the material time;
      (c) receive and consider any material by way of oral evidence, written statements or Documents, even if such material may not be admissible in evidence in civil or criminal proceedings in a court of law;
      (d) by notice in writing require a person to attend before it at any sitting and to give evidence and produce any item, record or Document in his possession relating to the subject matter of the proceedings;
      (e) administer oaths;
      (f) examine or cause to be examined on oath or otherwise a person attending before it and require the person to answer truthfully any question which the Appeals Panel considers appropriate for the purposes of the proceedings;
      (g) order a witness to provide evidence in a truthful manner for the purposes of the proceedings by sworn statement;
      (h) order a person not to publish or otherwise disclose any material disclosed by any person to the Appeals Panel;
      (i) stay the proceedings on such grounds and on such terms and conditions as it considers appropriate having regard to the interests of justice; and
      (j) exercise such other powers or make such other orders as the Appeals Panel considers necessary for or ancillary to the conduct of the proceedings or the performance of its functions.
      (2) At the conclusion of any proceedings commenced under section 228, the Appeals Panel may do one or more of the following —
      (a) exercise any of the powers of the Regulator or the Regulatory Committee under these Regulations;
      (b) make an order requiring a party to the appeal to cease and desist from any contravention of these Regulations;
      (c) make an order requiring the party to the appeal to do an act or thing;
      (d) make an order prohibiting the party to the appeal from holding office at any Body Corporate carrying on business in the Abu Dhabi Global Market; or
      (e) make an order requiring a party to the appeal to pay a specified amount, being all or part of the costs of the proceedings, including those of any party to the proceedings. Costs ordered to be paid under this subsection shall be enforceable as a civil debt.
      (3) Upon making its decision, the Appeals Panel must without undue delay inform each party to the proceeding in writing of —
      (a) such decision and the reasons for such decision, including its findings on material questions of fact and identifying the evidence or other material on which those findings were based;
      (b) the date on which the decision is to take effect; and
      (c) where applicable, the date by which payment of any fine, restitution or compensation must be made.
      (4) A certificate that purports to be signed by the President or officer of the Appeals Panel and states that the Appeals Panel on a specified day made a finding that a specified person has committed a contravention of a specified provision of these Regulations or made a specified finding of fact, is in any proceedings before the Court, where relevant —
      (a) conclusive evidence that the person was found by the Appeals Panel on that day to have contravened the relevant provision;
      (b) prima facie evidence that the person contravened that provision; and
      (c) prima facie evidence of the relevant fact.

    • 230. Enforcement

      (1) A Person commits a contravention of these Regulations if he, without reasonable excuse —
      (a) fails to comply with an order, notice, prohibition or requirement of the Appeals Panel under section 229;
      (b) having been required by the Appeals Panel under section 229 to attend before the Appeals Panel, leaves the place where his attendance is so required without the permission of the Appeals Panel;
      (c) hinders or deters any person from attending before the Appeals Panel, giving evidence or producing any item, record or Document, for the purposes of any proceedings commenced under section 228;
      (d) threatens or causes any loss to be suffered by any person who has attended before the Appeals Panel, on account of such attendance; or
      (e) threatens or causes any loss to be suffered by any member of the Appeals Panel or any person assisting the Appeals Panel at any time on account of the performance of his functions in that capacity;
      (f) engages in conduct, including without limitation the —
      (i) destruction of Documents; or
      (ii) giving of information that is false or misleading;
      that is intended to obstruct the Appeals Panel in the exercise of any of its powers.
      (2) A person who commits a contravention under subsection (1) is liable to a financial penalty and may be subject to censure of the Appeals Panel, including by means of publication of a written notice of censure.
      (3) Where a person fails to comply with an order, notice, prohibition or requirement of a Appeals Panel made under section 229, the Court may, on application of —
      (a) the Appeals Panel; or
      (b) the Chief Executive at the request of the Appeals Panel;
      make any order as it thinks fit to enforce such order, notice, prohibition or requirement.