Dubai regulator fines Emirates REIT manager over asset report | Reuters
Dubai Financial Services Authority (DFSA) said on Wednesday it had fined Equitativa, the manager of a sharia-compliant real estate investment trust, $210,000 for misleading statements regarding one of its assets.
Equitativa made misleading statements on two occasions in 2018 regarding one of Emirates REIT's 11 assets, a school in Dubai Investment Park, the DFSA said.
"The DFSA also identified concerns around Equitativa's fund valuation practices," it said in a statement, adding that the fund manager had agreed to pay the fine.
Equitativa said in a statement that the settlement brought all investigations to a close and it could "now turn its full attention to reinvigorating Emirates REIT and accelerating its plans for growth".
No comments:
Post a Comment