Dubai crackdown widens with Shuaa bank sanctions 1187 1250 PakRealEstateTimes.Com

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Dubai crackdown widens with Shuaa bank sanctions

09-25-2008, 07:05 AM

Post: #1

Naveed Yaseen
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Dubai crackdown widens with Shuaa bank sanctions

DUBAI (September 25 2008): A crackdown on trading practices in Dubai widened on Wednesday when the bourse regulator fined leading investment bank Shuaa Capital almost $1 million for alleged manipulation of DP World shares. Dubai Financial Services Authority said on Wednesday it had sanctioned Shuaa after an "extensive and complex investigation" into trading irregularities in the shares.

In response, Shuaa said it regretted a lapse of its internal control systems and that it would ensure no repeat.

http://www.brecorder.com/index.php?id=813043

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