UAE Virtual Asset Regulatory Authority (VARA) Regulations
Company Rulebook – UAE Virtual Asset Regulatory Authority (VARA) Regulations

UAE Virtual Asset Regulatory Authority (VARA) Regulations CO-II.G: Company Rulebook II.G: Transactions with related parties

What does CO-II.G require?

Related party transactions above five per cent of issued share capital (and significant changes to their terms) need prior written Board consent, with the interested party not voting; the firm must give VARA prior notice with details and a fairness confirmation, let clients and shareholders review the records, keep a register, report all related party transactions to VARA monthly, and supply documents on request; the related party and consenting directors are liable for damage from non-compliant or unfair transactions.

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