Dubai regulator fines fund manager for reporting breaches

clock • 4 min read
Dubai regulator fines fund manager for reporting breaches

The Dubai Financial Services Authority (DFSA) has imposed a penalty of $210,000 (AED 771,225) on Equitativa (Dubai) Limited (Equitativa) and accepted an Enforceable Undertaking from Equitativa. Equitativa is both the fund manager and the reporting entity of a NASDAQ listed fund, Emirates REIT (CEIC) PLC (EREIT). The DFSA found that on two occasions in 2018 Equitativa made misleading statements regarding one of EREIT's eleven assets, a school in Dubai Investment Park (the School), in bre...

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