Saturday 12 July 2014

DFSA slaps $200,000 fine on US firm

Dubai, May 1, 2011

US-based E*Trade Financial Corp has been fined $200,000 by a regulator in the UAE for breaching anti-money laundering controls, the local regulator said on Sunday.

Dubai Financial Services Authority (DFSA), which is the regulator for the Nasdaq Dubai bourse, said it fined E*Trade for failing to obtain sufficient evidence of its clients' source of wealth and for not providing adequate address details for some of its clients.

No one at E*Trade could immediately be reached for comment.-Reuters

Tags: Dubai Financial Services Authority |

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