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Dubai’s regulator fines brokerage $1.37m for inadequate compliance resources

Gate Avenue with The Dubai International Financial Centre DIFC in downtown Dubai United Arab Emirates
Photo: Getty Images

Jean Hurley

2 min read
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Another case of prolific incomplete electronic communications recordkeeping and monitoring failures.

The Dubai Financial Services Authority (DFSA) has imposed a fine of $1,368,767 (AED 5,023,375) on R.J. O’Brien (MENA) Capital Limited (RJO MENA/the firm) for failing to comply with regulatory requirements, including not having adequate systems and controls.

The fine was reduced from $2,793,403 (AED 10,251,789) because the firm offered the

“Authorised Firms

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