7. Other specific rule-making powers
(1) The Regulator may make Rules requiring Authorised Persons to take Specified steps in connection with the setting by a Specified person of a Specified Benchmark. Such Rules may in particular —
(a) require Authorised Persons to whom the Rules apply to provide information of a Specified kind, or expressions of opinion as to Specified matters, to persons determined in accordance with the Rules;
(b) make provision about the form in which and the time by which any information or expression of opinion is to be provided;
(c) make provision by reference to any code or other Document published by the person responsible for the setting of the Benchmark or by any other person determined in accordance with the Rules, as the code or other Document has effect from time to time; and
(d) make provision that the code or other Document referred to in paragraph (c) is to be capable of affecting obligations imposed by the Rules only if Specified requirements are met in relation to it.
(2) The Regulator may make Rules prescribing the conditions ("Threshold Conditions") that must be satisfied by Authorised Persons as a condition of obtaining and maintaining a Financial Services Permission ("Threshold Condition Rules"). Such Rules may in particular —
(a) specify requirements which a person must satisfy in order to be regarded as satisfying a particular Threshold Condition in relation to any Regulated Activities; and
(b) specify matters which are, or may be, or are not, relevant in determining whether a person satisfies a particular Threshold Condition in relation to any Regulated Activities.
(3) The Regulator may make Rules about the disclosure and use of information held by an Authorised Person ("A"). Such Rules may —
(a) require the withholding of information which A would otherwise be required to disclose to a person ("B") for or with whom A does business in the course of carrying on any Regulated Activity or other activity;
(b) specify circumstances in which A may withhold information which A would otherwise be required to disclose to B;
(c) require A not to use for the benefit of B information —
(i) which is held by A; and
(ii) which A would otherwise be required to use for the benefit of B; and
(d) specify circumstances in which A may decide not to use for the benefit of B information within paragraph (c).
(4) The Regulator may make Rules as to the circumstances and manner in which, the conditions subject to which, and the time when or the period during which, action may be taken for the purpose of stabilising the price of Specified Investments.
(5) The Regulator may make Rules which treat a person who acts or engages in conduct —
(a) for the purpose of stabilising the price of investments; and
(b) in conformity with such provisions corresponding to price stabilising rules and made by a body or authority outside the Abu Dhabi Global Market as may be Specified;
as acting, or engaging in that conduct, for that purpose and in conformity with Price Stabilising Rules.
(6) The Regulator may make Rules in connection with the creation and implementation of anti-money laundering measures, policies and procedures, including Rules as to:
(a) the persons or classes of persons who shall be subject to any such measures, policies and procedures;
(b) the nature and extent of any duty, requirement, prohibition, obligation or responsibility applicable to such persons; and
(c) registration of any or all such persons with the Regulator, including the criteria that person must meet to become and remain registered by the Regulator.
(7) The Regulator may make Rules applicable to Approved Persons or other employees or persons connected with Authorised Persons, with respect to the conduct required of such persons. Such Rules may relate to the conduct required of such persons in relation to —
(a) the performance by them of Controlled Functions; or
(b) the performance by them of any other functions in relation to the carrying on by Authorised Persons of Regulated Activities.
(8) The Board may make Rules requiring the payment to the Regulator of such fees, in connection with applications made under these Regulations, as are specified in the Rules. The Regulator may reject an application which is not accompanied by the payment to the Regulator of the fees due on such application.
(9) The Board may make Rules requiring the payment of such periodic fees to the Regulator by Authorised Persons and Recognised Bodies, as the Rules specify.
(10) Rules made under subsection (8) or (9) may prescribe different levels of fees for different types of applicant or different types of Regulated Activity.
(11) Any fee which is owed to the Regulator under any provision made by such Rules may be recovered as a debt due to the Regulator.
|Amended on (21 February 2018 and 8 April 2019).|