US EditionAbu Dhabi Financial Regulator Fires Warning Shot
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Abu Dhabi Financial Regulator Fires Warning Shot
The Abu Dhabi Global Market (ADGM), the free zone for financial service providers in the capital of the UAE, imposed fines on 23 resident firms at the end of May. The fines themselves are minimal, but the reasoning behind them is striking. Written by Gérard Al-Fil, Dubai The Financial Services Regulatory Authority (FSRA) of the ADGM imposed fines totaling 610,000 dirhams ($166,000) on 23 companies. According to the FSRA, some of these firms viol…
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