Versions

 

15A. Powers of the Regulator

(1) This chapter is made in recognition of the application in the Abu Dhabi Global Market of Federal Decree by Law No. 20 of 2018 on Anti Money Laundering, Combating the Financing of Terrorism and Financing of Illegal Organisations, Federal Law No. 7 of 2014 on Combating Terrorism Offences and any other Federal legislation relating to money laundering, terrorist financing, the financing of unlawful organisations or sanctions non-compliance.
(2) A reference in these Regulations to money laundering is taken to include terrorist financing, the financing of unlawful organisations and sanctions non-compliance.
(3) The Regulator:
(a) is designated as the Supervisory Authority for the Abu Dhabi Global Market, for the purposes of the Federal AML Legislation;
(b) is responsible for regulation in relation to money laundering in the Abu Dhabi Global Market; and
(c) has the power to supervise compliance with relevant AML laws in the State by Relevant Persons.
(4) The Regulator may, by written notice, deem a person to be a Relevant Person for the purposes of this Chapter and the Rules made under these Regulations, subject to such terms and conditions as it may consider appropriate.
(5) Nothing in this section 15A is intended to limit any function or power conferred on another body or authority under the Federal AML Legislation.
Added on (15 April, 2019).