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Abu Dhabi / WAM
The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) has issued an announcement to alert the financial services community and members of the public on certain claims made by a Rothschild Gulf Investment Bank (RGIB).
RGIB has claimed on its website that it maintained private offices in the ADGM on Al Maryah Island and provided financial services.
This claim has now been removed from its website. RGIB has not been granted a Financial Services Permission as an authorised person or be an exempt person and is not an entity with any presence both legally and physically with ADGM. The FSRA is concerned that RGIB is misrepresenting itself. Furthermore, it adds that such misrepresentations may be linked to other illegal
activities.
The FRSA strongly advises the market and investors to be aware and cautious of RGIB or persons purporting to be acting for it, and under no circumstances to transfer nor send money or assets to this named entity. Communications
with RGIB is at the investor’s
own risk.
Any enquiry concerning the status of a regulated entity and about the type of activities that FSRA
licensed firms can conduct in the ADGM can be made via the ADGM website.
For complaints about a firm in relation to financial services activities being conducted in the ADGM, the public can direct their complaints to the FSRA via the same web page.