The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has recently unveiled its comprehensive plan for 2024, outlining its regulatory priorities. This plan, referred to as the Business Plan, encompasses various facets of the FSRA’s operations, encompassing authorization, supervision, enforcement, and legislative development. Significantly, it underscores the roles of the FSRA and ADGM in the UAE’s endeavours to address financial crime.
Emmanuel Givanakis, the chief executive officer of FSRA, underscored the importance of the Business Plan, affirming, “The Business Plan delineates our strategy and priorities for 2024. Our focus lies in enabling both traditional and emerging activities within the financial services sector, in addition to advancing our regulatory framework in sustainable finance and digital assets.”
A pivotal component of the Business Plan is the FSRA’s unwavering commitment to engaging with stakeholders both domestically and globally. This entails active collaboration with national and international entities, as well as the hosting of flagship events like Abu Dhabi Finance Week. Furthermore, the plan reflects the FSRA’s forward-thinking approach to staff development and the promotion of financial literacy within the UAE and the wider region.
Givanakis also underscored the significance of innovation in bolstering the regulation and supervision of financial services. He emphasized that constructive engagement with stakeholders has fostered the establishment of a comprehensive and progressive regulatory framework, upholding international standards and strategically addressing the present and future requisites of the financial services sector.
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