MFA submitted a letter to the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA) in support of their drive to refine fund manager regulations.

The letter provided the following comments:

• Tailor the regulatory framework for private funds, available only to sophisticated, institutional investors, to help attract global managers and capital.

• Avoid prescriptive leverage caps for private funds, and instead rely on disclosure and risk-based guardrails calibrated for different strategies and risk profiles.

• Streamline regulation for smaller fund managers to lower barriers to entry and support market growth.

• Strengthen accountability for foreign fund managers while allowing targeted exceptions where local custody or administration requirements are impractical.

• Integrate specialist investment strategies into the broader framework to reduce fragmentation and enhance ADGM's competitiveness.