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