Qatari Regulator Fines U.A.E.'s Biggest Lender $55 Million - Bloomberg:
Qatar Financial Centre Regulatory Authority fined First Abu Dhabi Bank PJSC 200 million Qatari riyals ($55 million) for obstructing an investigation into suspected market manipulation by the United Arab Emirates’ biggest lender.
The fine “reflects the gravity and seriousness of the breaches of regulatory requirements caused by the deliberate and intentional steps taken by FAB” to obstruct the investigation into the manipulation of the riyal, Qatari government securities and related financial instruments, the regulator said in a statement on Sunday.
The QFCRA started its investigation last March. As part of the investigation, the regulator asked First Abu Dhabi Bank to provide copies of the relevant trading records and related documentation it held, but the Abu Dhabi-based lender failed to do so, according to the statement.
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