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

UAE Virtual Asset Regulatory Authority (VARA) Regulations CO-VII: Company Rulebook VII: Wind down plan and insolvency

What does CO-VII require?

Maintain a wind down plan covering obstacles and resources, safekeeping and return of client virtual assets, staff, client communications, knowledge transfer to other firms, systems and records, keeping the surety bond, stopping new clients, listing liabilities, excluding client money and virtual assets from any sale, and allowing VARA to take control of client assets. On a voluntary wind down, notify VARA within one day with the current plan, implement it with VARA's changes and report weekly; in insolvency, cooperate fully with the insolvency appointee.

Maintained by Gerard BlokdykVerified against the published standard Control text last updated

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