Dubai tribunal upholds ban and fine of ex-DIFC based banker

Dubai's Financial Markets Tribunal (FMT) has upheld enforcement action taken by the Dubai Financial Services Authority (DFSA) against  Gilles Rollet for serious misconduct, including misleading the DFSA, and has ordered Rollet to pay half of the DFSA's costs. Following a three-day hearing in November 2021, on 12 January 2022 the FMT issued its decision upholding the DFSA's findings and imposing the following sanctions: a fine of $175,000; a prohibition from holding office in or being an employee of certain DFSA-regulated entities; and a restriction from performing any function i...