Abu dhabi: The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has signed a Memorandum of Understanding (MoU) with the General Commercial Gaming Regulatory Authority (GCGRA), the UAE's federal regulator for commercial gaming. The agreement establishes a formal framework for regulatory cooperation and the exchange of information to support their respective supervisory responsibilities.
According to Emirates News Agency, the MoU reinforces the shared commitment of both authorities to maintaining high regulatory standards through effective collaboration, information sharing, and coordinated engagement on mutual interests. The framework supports the effective supervision of regulated entities while respecting each authority's independent statutory mandates.
The agreement reflects ongoing efforts to foster a transparent and internationally aligned regulatory environment that promotes responsible innovation and sustainable market development. It enhances cooperation in supervisory coordination, policy dialogue, investigative assistance, and the exchange of regulatory information, adhering to applicable laws and confidentiality requirements.
Through the MoU, both entities aim to strengthen regulatory certainty for market participants operating within ADGM and the UAE's broader financial ecosystem, while reinforcing confidence in the jurisdiction's regulatory framework. Emmanuel Givanakis, CEO of the FSRA of ADGM, emphasized the importance of collaboration between regulators to preserve market integrity and address emerging risks.
Ciar¡n Carruthers, CEO of the GCGRA, highlighted the significance of the agreement for the commercial gaming sector in the UAE, noting that the MoU provides a clear channel for information sharing and coordinated supervision. He stated that the UAE's reputation as a well-regulated jurisdiction depends on such cooperation between regulators.
The agreement reinforces effective cooperation between competent authorities and supports the UAE's commitment to maintaining high regulatory standards and international best practices.