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Abu Dhabi Global Market (ADGM) has announced the publication of its whistleblowing framework, a coordinated initiative between ADGM Authorities.
The organisation outlined that entities within the centre will implement proportionate arrangements to support effective whistleblowing by 31st May 2025.
Further, according to ADGM, these arrangements will need to be captured in writing by companies over a certain size, or that carry additional financial crime risks.
The whistleblowing framework encompasses:
- Dedicated regulations that recognise and protect good faith reporting of ‘protected disclosures’.
- Availability of internal and external channels for reporting reasonably suspected breaches of ADGM legislation or financial crime.
- Protection for anonymous reporting in good faith of reasonably suspected misconduct.
- Non-retaliation protections integrated into existing employment regulations to guard employees of all ADGM entities against retaliation for speaking up.
- Good governance requirements to support whistleblowing for all ADGM entities.
- Written policies and procedures for firms licenced by the FSRA, designated non-financial businesses or professions (DNFBPs) and large ADGM entities.