The Dubai Financial Services Authority (DFSA) has fined FFA Private Bank (Dubai) (FFA) $373,842 for having inadequate systems and controls to identify, assess and report trading, which exhibited suspicions of market abuse between February 2018 and March 2021. In a statement on 2 November, the regulator said this action followed, and was connected to, the prohibition that was imposed on FFA on 18 May 2021 from receiving, arranging or executing orders from or on behalf of specific clients. The prohibition was lifted on 15 July 2021 after FFA was able to demonstrate to the DFSA that it h...
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