• 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  or  Financial  Crime,  for example, by detecting suspicious patterns in the use of its facilities;
      (iii) communicate  information  about  Market  Abuse  or  Financial  Crime promptly and accurately to appropriate organisations; and
      (iv) cooperate with all  relevant bodies in  the prevention, investigation and pursuit of Market Abuse or Financial Crime.