Fines for authorised investment firm and SEO as tribunal upholds DFSA decision   

Mark Battersby
clock • 3 min read

Dubai's Financial Markets Tribunal (FMT) has "largely upheld" enforcement action taken by the Dubai Financial Services Authority (DFSA) against an Dalma Capital Management and its senior executive officer (SEO) Zachary Cefaratti for misleading the DFSA and failing to conduct Dalma's business activities with due skill, care and diligence.   In a majority decision, the DFSA said on 7 February that each was fined $162,500, an amount reduced from the fines proposed by the DFSA of $170,000 for Dalma and $300,000 for Cefaratti.  Cefaratti will also be restricted from acting as SEO of Dalma fo...

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