In this episode of The Riffle, we break down ADGM’s Restricted Securities Regime — a cornerstone framework designed to support fair price discovery and investor protection for issuers listed under the Assets Eligibility Test.
We explore:
🔹 Why ADGM applies transfer restrictions to founders, insiders, and early investors
🔹 The 11 categories of Restricted Securities and their one- or two-year lock-up periods
🔹 How the Restriction Formula works for early-stage shareholders
🔹 Mandatory requirements: Restriction Agreements, Holding Locks, and disclosure obligations
🔹 The limited circumstances where transfers are permitted.
If you advise early-stage issuers or work with ADGM listings, this episode will help you navigate the practical and regulatory aspects of this regime.
🏢 Presented by 10 Leaves
In this episode of The Riffle, we explore the DIFC Authority’s latest consultation on proposed amendments to the Real Property Law (RPL) — designed to enhance clarity, fairness, and flexibility within the Centre’s property framework.
Key highlights include:
✅ Introduction of a ten-year decennial liability for contractors on construction defects
✅ Extended lease registration period — from 30 to 45 days
✅ Extended payment window for off-plan Freehold Transfer Fees — from 30 to 60 days
✅ Lower, specific fine for failure to register a lease
✅ Removal of obsolete fees related to caveat lapsing
✅ And an enacted change to Operating Regulations, effective October 28, 2025, transferring the 7% sales fee collection for hotels and alcohol-serving establishments from the Dubai Municipality to the DIFC Authority.
Presented by 10 Leaves!
The FSRA has issued its latest Supplementary Guidance on Digital Investment Management — setting out a comprehensive framework for algorithm-based investment services in ADGM.
In this episode of The Riffle, we highlight:
✅ What qualifies as Digital Investment Management — including AI-driven tools and limited human interaction
✅ Required Financial Services Permissions (FSPs) and capital expectations for firms
✅ Core governance pillars: algorithm oversight, testing, security, and ongoing monitoring
✅ Technology governance, cybersecurity controls, and data protection standards
✅ Strengthened AML/TFS expectations and robust suitability + disclosure requirements for retail clients
🏢 Presented by 10 Leaves
The FATF has released its latest grey list update — with Burkina Faso, Mozambique, Nigeria, and South Africa officially removed after completing their action plans.
In this episode of The Riffle, we highlight:
✅ The 20 jurisdictions still under monitoring
✅ Key focus areas: beneficial ownership, risk-based supervision, and financial intelligence
✅ FATF’s call for a balanced, risk-based approach — not de-risking
📄 Source: FATF Public Statement – October 2025
🏢 Presented by 10 Leaves
In this episode of The Riffle, we break down ADGM’s newly enhanced regulatory framework, effective October 16, 2025, which redefines how legal, tax, and company service providers operate within the financial centre.
We cover:
✔️ Regulation of tax advisory as a controlled activity
✔️ New qualification and governance standards for legal and tax firms
✔️ Updated capital, insurance, and reporting requirements for CSPs
✔️ Universal conduct principles for all professional providers
✔️ The six-month transition period for existing licensees
The framework marks a major step in strengthening governance, transparency, and accountability across ADGM’s professional services landscape.
🎧 Presented by 10 Leaves
In this episode of The Riffle, we break down ADGM’s Consultation Paper No. 11 of 2025, which introduces a new framework for Temporary Business Permits.
We unpack how these proposed rules aim to simplify short-term business activities — from pop-ups and events to marketing promotions — while ensuring clarity, compliance, and consumer protection within ADGM.
🎧 Presented by 10 Leaves
In this episode of The Riffle, we unpack the ADGM FSRA’s Thematic Review on Anti-Money Laundering (AML), Counter Financing of Terrorism (CFT), and Targeted Financial Sanctions (TFS) frameworks for Virtual Asset Service Providers (VASPs).
The review reveals a clear message — awareness alone isn’t enough. Firms must turn written policies into measurable, consistent action.
Tune in as we break down:
🔹 The purpose and scope of the FSRA’s review
🔹 The biggest weaknesses found across licensed VASPs
🔹 FSRA’s expectations for stronger, risk-based AML/CFT frameworks
🔹 The steps firms must take to enhance compliance and governance
As ADGM continues to shape itself as a global hub for virtual assets, this review reinforces its commitment to regulatory integrity, transparency, and responsible innovation.
🎧 Presented by 10 Leaves
In this episode of The Riffle , we explore the newly introduced DIFC Data Protection Regulation 10, a landmark framework designed to bring responsibility, transparency, and trust into the use of Artificial Intelligence systems that process personal data.
We break down:
🔹 The principles of “privacy by design and default” built into the regulation
🔹 Key requirements for AI systems, including clear notices, AI registers, and evidence of safeguards
🔹 The new obligations for high-risk AI processing — from system certification to the appointment of an Autonomous Systems Officer (ASO)
🔹 How DIFC defines accountability through the roles of Deployers, Operators, and Providers
🔹 The resources and support available from the DIFC Commissioner’s Office to help firms comply
As AI adoption accelerates, governance is no longer optional. Tune in to understand how DIFC’s Regulation 10 sets the path for responsible AI adoption and why strong governance = strong trust.
Presented by 10 Leaves
In this episode of The Riffle , we dive into the latest ADGM Notice FSRA/FCCP/128/2025 on malware threats and cybercrime prevention. Issued by the Financial & Cyber Crime Prevention (FCCP) department of the FSRA, the notice highlights the serious risks posed by malware, from operational disruption and data theft to reputational and financial damage.
We break down:
🔹 The nature and impact of malware on financial institutions
🔹 Key categories — spyware, ransomware, viruses, worms, and more
🔹 How malware spreads — phishing, unsafe downloads, infected devices, and unsecured networks
🔹 ADGM’s recommended defence in depth strategies, from antivirus software and email filters to patching, firewalls, and offline backups
🔹 Why vigilance is essential to maintaining the security, integrity, and stability of the UAE’s financial ecosystem
Cybercrime isn’t just an IT issue — it’s a business risk. Tune in to understand how firms can strengthen resilience and safeguard trust in today’s digital economy.
Presented by 10 Leaves
In this episode of The Riffle, we unpack ADGM’s newly enacted Substantial Public Interest Rules under the Data Protection Regulations 2021, effective September 9, 2025.
These amendments provide much-needed clarity on processing Special Categories of Personal Data under defined public interest grounds — with a strong emphasis on protecting vulnerable individuals, such as children and adults at risk of harm, while enabling responsible data use across sectors.
Tune in as we cover:
🔹 Why these rules matter for data protection in ADGM
🔹 Key provisions for the insurance sector (Rule 3)
🔹 Safeguards for children and at-risk individuals (Rule 4)
🔹 The balance between global best practices and local societal needs
The rules reinforce ADGM’s commitment to accountability, transparency, and public trust, marking another step forward in its role as a global financial centre with robust regulatory standards.
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Presented by 10 Leaves
In this episode of The Riffle, we unpack the DFSA’s 2025 Thematic Review of High-Growth Firms in DIFC. With 46% more authorised firms since 2021, $169B in assets under management, and retail clients growing 72% annually, DIFC is cementing its role as a global financial hub.
But growth brings challenges — from governance gaps and under-resourced compliance teams to financial pressures and scaling client onboarding. The DFSA stresses the need for firms to align systems, controls, and resourcing with their rapid expansion to ensure sustainable growth.
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🎙️ Presented by 10 Leaves – Simplifying Regulation. Empowering Growth.
In this episode of The Riffle, we unpack the DFSA’s Thematic Review on Fund Management Self-Custody in the DIFC, following strong growth in the Domestic Funds market.
With 153 Domestic Funds and 46 of them (USD 3.8B AuM) using self-custody, the review highlights both good practices and widespread weaknesses.
We cover the main gaps in policies, disclosures, conflicts of interest, and compliance oversight along with DFSA’s expectations for stronger governance and transparency going forward.
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Presented by 10 Leaves – Homegrown CSP in ADGM & DIFC
In this episode of The Riffle, we unpack the ADGM Data Protection Rules 2025, which introduce new legal grounds for processing Special Categories of Personal Data in the public interest.
We break down the two key conditions:
🔹 Insurance Purposes – processing data for contracts, claims, and obligations without explicit consent in defined cases.
🔹 Safeguarding Children & At-Risk Adults – allowing data use when necessary to protect well-being.
With oversight from the Commissioner of Data Protection, these rules bring clarity for organisations while balancing privacy rights and public interest in ADGM.
Presented by 10 Leaves
In this episode of The Riffle, we unpack the Proposed Regulatory Framework for Fiat-Referenced Tokens (FRTs) released under Consultation Paper No. 9 of 2025 by the Financial Services Regulatory Authority (FSRA) of ADGM.
You’ll learn how the framework builds on the 2024 Amendments, introduces a regulator-led approval process for “Accepted FRTs,” and expands regulated activities to cover custody, payment services, and the newly proposed FRT Intermediation activity.
We also break down the five key criteria for foreign FRTs, the new Safe Custody and AML/KYC requirements, and the proposed fee structure and issuance rules — including the prohibition on Dirham-denominated FRTs.
If you’re a compliance professional, financial services provider, or simply curious about how stablecoins are being integrated into ADGM’s ecosystem, this episode gives you the clarity you need.
Presented by 10 Leaves
In this episode of The Riffle Podcast, we break down the UAE’s 2025 National Money Laundering and Terrorism Financing (ML/TF) Risk Assessment — a transparent look at the country’s financial crime landscape.
From high-risk sectors like banking, real estate, exchange houses, and virtual assets, to vulnerabilities in hawala and non-profit organizations, the report highlights where the challenges lie — and how the UAE is strengthening its defenses.
We’ll also explore emerging risks in luxury goods and casinos, the role of legal persons in concealing ownership, and the compliance priorities businesses must address today.
With ML risk rated high and TF risk medium-high, this episode explains what it means for firms, regulators, and professionals navigating the UAE’s financial hub.
🎙️ Presented by 10 Leaves
In this episode of The Riffle, we unpack the UAE’s Targeted Financial Sanctions (TFS) framework — a key safeguard against terrorism financing, proliferation financing, and sanctions evasion.
We cover the legal foundation, who must comply, and the four-step compliance process: register, screen, freeze, and report. You’ll also hear about ownership & control rules, grievance procedures, and the penalties for non-compliance — along with protections for those acting in good faith.
🎧 Presented by 10 Leaves
In this episode of The Riffle
We unpack the FSRA’s latest amendments to the Prudential Rulebook in ADGM, published on 19 August 2025. These updates bring significant changes to capital requirements, professional indemnity insurance (PII), and the Supervisory Review and Evaluation Process (SREP).
From higher base capital for Category 3C and 4 firms, to mandatory PII cover for certain Domestic Firms, and an expanded scope for IRAP and SREP, the amendments are designed to strengthen resilience, align with Basel standards, and enhance regulatory oversight .
Whether you’re a regulated firm in banking, investment, insurance, or virtual assets, this episode will guide you through the key requirements, effective dates, and what your business must do to stay compliant.
🎧 Presented by 10 Leaves.
In this episode of The Riffle, we unpack how proliferation financing continues to fund Weapons of Mass Destruction programs despite decades of sanctions. Drawing on FATF’s latest findings, we explore how DPRK, Iran, and Russia exploit loopholes through shell companies, hidden ownership, crypto misuse, and maritime tricks.
We also highlight the key vulnerabilities in global finance, the recurring challenges regulators face, and the good practices that can help both public and private sectors strengthen defenses.
🎧 Presented by 10 Leaves !
In this episode, we break down the ADGM’s 2024 DNFBP Common Findings Report, which highlights six recurring compliance gaps uncovered during AML/TFS assessments across Designated Non-Financial Businesses and Professions.
From inadequate customer due diligence to missing TFS risk assessments, weak ongoing monitoring, and MLRO succession issues — we explore what the regulator found, the expectations set for DNFBPs, and the steps firms must take to align with AML/TFS obligations.
Whether you’re in real estate, company services, legal, or the high-value goods sector, this episode will help you understand the risks, avoid common pitfalls, and strengthen your compliance framework.
Presented by 10 Leaves!
In this episode, we break down ADGM FSRA’s updated Cyber Risk Management Framework—effective January 31, 2026. From board-level accountability to third-party oversight and real-time threat monitoring, this new framework sets a higher bar for cybersecurity in the financial sector.
Tune in to understand what’s changing and how firms can stay compliant in a fast-evolving risk landscape.
Presented by 10 Leaves