Shuaa Securities has started the process of transferring client accounts to third party brokers, marking the final phase of shutting its retail share-trading business.
Shuaa Capital, the Dubai-based investment bank and parent company, will retain institutional clients and high net worth clients, acting as advisers and executing share-trades through another company.
"We are encouraging clients to go and find someone else to do brokerage with," said Oliver Shutzmann, the spokesman at Shuaa Capital. "We have been in talks with the regulator, there is a process we have to follow. We are in the final stages of closing retail brokerage."
No comments:
Post a Comment