The Dubai Financial Services Authority (DFSA) has censured investment banking advisory firm MAS ClearSight and directed it to pay compensation of $3.2m (£2.1m, AED12m) to 20 investors for contravening the DFSA’s law and rules.
Industry consolidation, moves away from commission income and a greater focus on financial planning are all on the horizon for 2016, according to four top Dubai-based financial advisers.
The Zurich Insurance Group is to cut back its general insurance operation in Middle East as part of a global restructuring that has seen it also exit the life business in Singapore.
The Dubai Financial Services Authority (DFSA) has issued a consultation paper on the insurance sector in a bid to clarify and update the regulatory regime.
Abu Dhabi Global Market, the newest financial centre in the Middle East, and its Financial Services Regulatory Authority (FSRA) opened for business in the United Arab Emirates on Wednesday.
The Dubai Financial Services Authority (DFSA) and the Financial Services Commission of Mauritius (FSC Mauritius) earlier this month entered into a memorandum of understanding (MoU) on capacity building, as well as other collaborations.
Old Mutual International has named two new area sales managers for the United Arab Emirates and Europe.
Regulators in the Middle East need to do more to crack down on unregulated schemes and products, according to a new survey by market intelligence company Insight Discovery.
Friends Provident International is abandoning all of its global operations, excluding Hong Kong, Singapore, Dubai, and the ‘permitted jurisdictions’ of South Africa and Qatar.
Zurich Global Life has appointed Walter Jopp as head of market management for the Middle East and Africa following Paul Dawson’s move to the UK.
The Dubai Financial Services Authority (DFSA) and the Australian Prudential Regulation Authority (APRA) have entered a memorandum of understanding to “share information and cooperate in the supervision of financial institutions”.
US citizens are becoming more diverse when searching for jobs abroad with Dubai leap-frogging London as the top destination, according to research by health benefits provider Aetna International.
