• Exempt Communications

    • 4. Communications to non-Abu Dhabi Global Market Recipients and Authorised Persons or Recognised Bodies

      (1) Subject to sub-paragraph (3), the Financial Promotion Restriction does not apply to any communication which —
      (a) is made only to Recipients whom the person making the communication believes on reasonable grounds to be Authorised Persons or Recognised Bodies or persons outside the Abu Dhabi Global Market; or
      (b) may reasonably be regarded as being directed (whether from inside or outside the Abu Dhabi Global Market) only at Authorised Persons or Recognised Bodies or persons outside the Abu Dhabi Global Market.
      (2) A communication will fall within the exemption in sub-paragraph (1)(b) if the conditions set out in sub-paragraphs (a) to (d) are met. In any other case where one or more of the conditions in sub-paragraphs (a) to (d) are met, that fact is to be taken into account in determining whether or not the exemption in sub-paragraph (1)(b) applies. The conditions in this paragraph are that —
      (a) the communication is accompanied by an indication that it is directed only at persons falling in sub-paragraph (1)(b), that it must not be acted or relied upon by any other persons and that any investment or investment activity to which it relates is available only to such persons or will be engaged in only with such persons;
      (b) the communication is not referred to in, or directly accessible from, any other communication made to a person or directed at persons other than those falling under sub-paragraph (1)(b) by the person directing the communication;
      (c) there are in place proper systems and procedures to prevent Recipients other than those falling under sub-paragraph (1)(b) from Engaging in the Investment Activity to which the communication relates with the person directing the communication, a Close Relative of his or a member of the same Group;
      (d) the communication is included in —
      (i) a web site, newspaper, journal, magazine or periodical Publication which is principally accessed in or intended for a market outside the U.A.E.; or
      (ii) a radio or television broadcast transmitted principally for reception outside the U.A.E.
      (3) Sub-paragraphs (1)(a) and (b) do not apply to an Unsolicited Real Time Communication unless —
      (a) it is made from a place outside the Abu Dhabi Global Market; and
      (b) it is made for the purposes of a business which is carried on outside the Abu Dhabi Global Market and which is not carried on in the Abu Dhabi Global Market.
      (4) A communication may be treated as made only to or directed only at persons falling under sub-paragraph (1)(a) or (b) even if it is also made to or directed at other persons to whom it may lawfully be communicated.