On Apr. 30, AbuDGM required protected disclosures for whistleblowers.
AbuDGM issued Circular 2/2025 re implementing protected disclosures arrangements.
Follows Whistleblower Protection Regulations 2024 requiring all registered AbuDGM entities to put arrangements in place to support the making of protected disclosures.
Concerns reporting of suspected wrongdoing or misconduct including contraventions of AbuDGM regulations, rules, legislation administered by AbuDGM, and financial crime.
Persons who make protected disclosures are entitled to protections under regulations.
AbuDGM entities implement effective arrangements proportionate to their business.
Required FSRA-regulated entities, DNFBPs, DLT Foundations and Large Establishments to ensure that those arrangements are captured in written policies and procedures.
The AbuDGM entities who fail to implement such arrangements will be considered in contravention of the regulations and may be subject to fines of up to 50,000 USD.
Effectiveness
Entities shall implement the protected disclosures arrangements by May 31, 2025.
