Abu Dhabi-based investment platform ACM has been granted an extension to its permissions by the Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA).
The high net worth (HNW) services provider was already offering financial advice on investment and credit as well as arranging custody and deals in investments and credit and managing assets and collective investment funds.
The permission extension will now allow ACM to provide brokerage services, including buying, selling and subscription services for financial instruments on behalf of its clients.
Maxim Kuzyakin, senior executive officer and licensed director at ACM, said: “We are committed to our existing and potential clients’ achievement of their financial goals by providing robust and safe solutions for holding, managing, and amplifying their investments by applying our philosophy of providing a best-in-industry experience and risk resilience to investment solutions that stand the test of time.
“We believe that with the extended financial services permission we can offer our clients a broader range of investment solutions and more asset allocation opportunities to ensure safe investment in the global financial world.”
Dimitrios Kanias, licensed director and senior compliance officer at ACM, added: “The extension of our licences is in line with our vision of ACM expanding and reinforcing its footprint in the Mena region, evolving into a reliable and forward-thinking investment platform.
“By obtaining the extension to our regulated activities, we are able to offer our clients and partners a range of investment services and opportunities delivered worldwide from the international financial centre of Abu Dhabi.”
Arvind Ramamurthy, chief of markets at ADGM, said: “We welcome the news of ACM receiving an extension on its FSP and scaling up their financial operations that will support their pool of existing and potential investors in achieving their financial goals in the UAE and across borders.
“As an international financial centre, ADGM is committed to catalyse the growth of its business community, through fostering a trusted and well governed business environment that encourages their sustainable growth while contributing to the economic diversification of Abu Dhabi.
“Working under the regulatory umbrella of ADGM and FSRA is something we are proud of and we look forward to seeing the continued growth and prosperity of Abu Dhabi as a leading finance industry player.”