Abu Dhabi Global Market, ADGM, has announced that its Financial Services Regulatory Authority, FSRA, Policy and Legal Team, have won two prestigious awards at the annual In-House Community Counsels of the Year Awards 2020.

"The team was awarded ‘In-House Community Best Practice Legal Teams of the Year in Financial Services’ and ‘In-House Community Best Practice Legal Teams of the Year in innovation'," the international financial centre said in a statement.

This is the second consecutive year where FSRA’s legal team has been recognised for their high quality in-house legal services and innovative achievements, taking home three In-House Community Counsels of the Year Awards in 2019.

The FSRA Policy & Legal Team won these awards, on the strengths and achievements in 2019. These accolades were based on a number of regulatory and legal milestones reached by the FSRA legal team throughout last year, including publishing frameworks for Digital Investment Management, Digital Securities, Digital Banking, Application Programming Interfaces, APIs, and many others.

Commenting on the win, Richard Teng, Chief Executive Officer of the Financial Services Regulatory Authority of ADGM said, "We are delighted to be recognised by industry leaders for a second year in a row in relation to our Policy & Legal Team’s efforts. This is a strong endorsement of ADGM’s thought leadership and innovation agenda as a leading international financial services regulator. We will continue to develop world-leading regulatory framework that supports the needs of stakeholders and support growth as well as innovation through the development of a vibrant financial services ecosystem."

Among the notable winners apart from the FSRA Policy & Legal Team were IBM Japan, KPMG China, Nestlé Middle East FZE , Barclays Bank and Baker McKenzie. Despite the COVID-19 pandemic the organisers successfully conducted the awards by way of a virtual platform this year.

The In-house Community is a supportive community of professionals that help in-house legal and compliance professionals meet their ethical, legal and business commitments and responsibilities within their organisations. It is comprised of over 20,000 in-house lawyers, globally including those with a responsibility for legal and compliance issues in the Asia-MENA region.

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