QATAR FINANCIAL CENTRE REGULATORY AUTHORITY:
* SAYS HAS TAKEN ENFORCEMENT ACTION AGAINST HORIZON CRESCENT WEALTH LLC (HCW)
* IMPOSED A FINE OF 30 MILLION RIYALS ON HCW AS A RESULT OF SERIOUS LEGAL AND REGULATORY BREACHES
* SAYS ENFORCEMENT ACTION TAKEN AFTER AN INVESTIGATION OF THE FIRM THAT IDENTIFIED SIGNIFICANT FAILINGS BY HCW IN ITS COMPLIANCE WITH THE ANTI-MONEY LAUNDERING AND COMBATING TERRORIST FINANCING RULES
* SAYS HCW HAD HELD ITSELF OUT AS CONDUCTING AN ASSET MANAGEMENT BUSINESS WITHOUT AUTHORISATION FROM THE QFCRA
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