DFSA impose hefty fines on Cayman Islands and UAE linked firms over financial breaches 

clock • 2 min read
DFSA impose hefty fines on Cayman Islands and UAE linked firms over financial breaches 

The Dubai Financial Services Authority (DFSA) has fined two companies and two individuals a total of more than AED5.7m for breach of legislation, including unauthorised financial services activities. In a statement on 22 March, it said the two firms were Adenium Energy Capital Ltd (Adenium Cayman), a Cayman Islands registered company now in liquidation, and Adenium Energy Capital Advisors Ltd (AECAL), a DFSA authorised firm also now in liquidation. The two individuals are Wassef El Sawa...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now

 

Already a International Investment member?

Login