The Registration Authority (RA) and the Financial Services Regulatory Authority (FSRA) of ADGM would like to alert members of the public about an entity using the name ‘Vibrafund FZLLC’ (Vibrafund), purporting to be registered and licensed with the RA and authorised by the FSRA in relation to digital assets trading.
The RA confirms that:
- Vibrafund is not incorporated, registered, or licensed with the RA and does not appear on ADGM’s Public Register of Companies;
- to date, Vibrafund has not applied for a commercial licence with ADGM; and
- the RA has no connection with Vibrafund.
The FSRA confirms that Vibrafund is not, and has never been, licensed by the FSRA to carry on any form of financial services in or from ADGM.
Only firms authorised by the FSRA can undertake financial services activities in or from ADGM. The FSRA advises the market and investors to exercise caution and not to deal with any firm until it has verified that the firm is authentic and has been granted the appropriate Financial Services Permission by the FSRA to undertake financial services activities in or from ADGM.
The RA and FSRA are particularly concerned that inaccurate claims or documents regarding the registration, licensing and authorisation status may mislead members of the public into engaging with or investing in non-ADGM entities, exposing them to potential financial risk under the mistaken belief that such entities are incorporated, registered, licensed, authorised, or otherwise subject to ADGM oversight.
Members of the public are encouraged to exercise caution and independently verify any claimed association with ADGM, particularly where investment opportunities, requests for payment, or requests for personal or financial information are involved.
Under ADGM’s commercial legislation, it is a serious contravention to misrepresent that an entity is incorporated, registered, or licensed in or from ADGM when this is not the case. This type of misconduct may result in regulatory enforcement action, including (but not limited to) the imposition of financial penalties.
Public Guidance:
- Verify if an entity has been granted a Financial Services Permission by the FSRA to carry on Regulated Activities in or from ADGM, by searching the FSRA’s Public Register.
- Verify the status of any entity claiming to be incorporated, registered, or licensed in ADGM by searching ADGM’sPublic Register of Entities at: registration.adgm.com.
- Verify the authenticity of any ADGM licence certificate or certificate of incorporation, received using ADGM’s document verification tool where documents can be uploaded and verified at: registration.adgm.com
- Exercise caution when contacted by any person or entity purporting to be associated with ADGM, particularly where investment opportunities, payment requests, or the provision of personal or financial information are involved.
- Submit a complaint to the Registration Authority through the complaint portal available here.