Dubai's DIFC regulator slaps fines on Al Ramz Capital and ex-employee - The National:
The regulator of the Dubai International Financial Centre (DIFC), said it fined securities brokerage firm Al Ramz Capital and one of its former employees for failing to cooperate with its investigation.
Dubai Financial Services Authority (DFSA), imposed a $205,200 (Dh753,000) penalty on Al Ramz, and the firm is also required to pay $100,000 towards the DFSA’s investigation costs, the regulator said in a statement on Monday. In addition, the DFSA imposed a $32,640 fine on its former head of information technology, Najim Al Attar, it added.
Both Al Ramz and Mr Al Attar received fines for “serious failures to provide complete and accurate information relevant to a DFSA investigation which commenced in 2014”, the DFSA said.
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