Finance ADGM sets deadline for whistleblowing rules By Pramod Kumar July 12, 2024, 7:23 AM ADGM Abu Dhabi has published its new whistleblowing framework to 'maintain transparency, accountability and market integrity' Companies in the Abu Dhabi Global Market (ADGM) have been given a deadline of May 2025 to implement the latest whistleblowing regulations. The financial authority has published its new whistleblowing framework to ‘maintain transparency, accountability and market integrity’. The framework includes regulations on reporting of protected disclosures, allowing reporting of suspected breaches of ADGM legislation or financial crime and protection for anonymous reporting for suspected misconduct. NewsletterGet the Best of AGBI delivered straight to your inbox every week In addition, the regulations will guard employees of all ADGM entities against retaliation for speaking up. Companies of a certain size, or with additional financial crime risks, need to follow these arrangements, ADGM said. Saudi CMA fines two for manipulating stocks UAE’s new federal authority to combat financial corruption UAE introduces regulations to clean up crypto market In February, Saudi Arabia ramped up its public anti-corruption measures in a further effort to attract foreign investment and shore up its massive economic reform programme. On February 13, cabinet approved a new law intended to protect whistleblowers, a week after the General Authority for Endowments said it would give a reward of up to 5 percent of the value of unauthorised endowments to those who inform via an online portal.
