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