Adgm Fsra Launches Consultation On Revisions To Its Fees And General Rulebooks
AI Analysis
On 2026-10-09, the ADGM FSRA published Consultation Paper No. 6 of 2026 proposing amendments to the FEES and GEN Rulebooks, with related amendments to the Guidance and Policies Manual. The proposals would revise market-infrastructure charges, introduce an annual supervision fee for securities admitted to the Official List, increase late regulatory-filing costs, and clarify permission-variation and change-in-control processes; independent market commentary indicates proposed implementation from 2027-01-01, subject to final rulemaking.
Key dates
- 2026-10-09
- FSRA published Consultation Paper No. 6 of 2026 on proposed revisions to the FEES and GEN Rulebooks.
- 2026-11-06 Deadline
- Consultation closes and written comments are due to the FSRA.
- 2027-01-01
- Implementation is proposed by independent market commentary to begin, subject to consultation feedback and final FSRA rulemaking; this is not yet an adopted effective date.
Suggested considerations
- Compliance teams may wish to review the consultation paper, Appendix 1 amendments to FEES, Appendix 2 amendments to GEN and Attachment 1 amendments to the GPM, and submit written comments to [email protected] by 2026-11-06.
- Market-infrastructure operators may wish to model the proposed application, annual supervision, Official List and trading-related charges against current budgets and assess whether the proposals affect pending applications or planned launches.
- Virtual-asset MTF operators and applicants may wish to recalculate total regulatory costs using the proposed USD 100,000 base MTF application fee, USD 40,000 base annual supervision fee, USD 25,000 virtual-asset application fee and USD 20,000 virtual-asset annual fee.
- Authorised Persons may wish to inventory permissions covering Virtual Assets, Fiat-Referenced Tokens and Spot Commodities and determine whether a proposed permission addition would trigger a separate variation or activity fee.
- Regulatory reporting owners may wish to test filing calendars, escalation controls and management information against the proposed USD 1,000, USD 2,000 and USD 3,000 late-filing stages, while recognising that the proposed regime is not yet binding.
- Applicants and compliance officers may wish to review change-in-control and variation-of-permission procedures, including whether proposed applications require additional supporting information or revised fee calculations.
- Firms may wish to prepare implementation plans for a possible 2027-01-01 commencement while continuing to apply the existing FEES and GEN requirements until final amendments are published.
What changed
The consultation proposes completing the FSRA's review of market-infrastructure fees by revising charges payable by Recognised Bodies and by operators of Multilateral Trading Facilities and Organised Trading Facilities. For a virtual-asset MTF, independent analysis of the proposed FEES amendments identifies a proposed underlying MTF application fee of USD 100,000 and annual supervision fee of USD 40,000, plus proposed virtual-asset-specific fees of USD 25,000 on application and USD 20,000 annually, producing proposed totals of USD 125,000 and USD 60,000 before any applicable trading levy or other charges. The proposals also clarify fees where an Authorised Person adds Virtual Assets, Fiat-Referenced Tokens or Spot Commodities to an existing permission and introduce a supervision fee for Se
Compliance impact
The proposals would increase the cost of operating or applying for certain ADGM market-infrastructure and virtual-asset permissions and would make late regulatory filings materially more expensive. A late filing would remain a regulatory breach and the FSRA may take additional supervisory action, including steps affecting authorisation, particularly where delays or incomplete or inaccurate submiss
Who is affected
Related regulations
References
AI-generated analysis. May contain errors or omissions — verify with the original ADGM source before acting. Full disclaimer.
What the ADGM said
Adgm Fsra Launches Consultation On Revisions To Its Fees And General Rulebooks
Published by ADGM . Read the full notice at the source for the authoritative text.