Arakan Forensic

UAE regulatory enforcement database

A growing, independently compiled record of fines, warnings, suspensions and reprimands published by CBUAE, DFSA, VARA, ADGM and SCA.

Last updated 03 Sep 2026, 07:32 UTC

This is not an official regulatory record. Arakan Forensic is an independent, automated compilation of enforcement notices published by CBUAE, DFSA, VARA, ADGM and SCA. It is not exhaustive — coverage depends on what each regulator has published and what our automated collection process has captured to date — and entries may contain extraction errors, omissions, or outdated information. Nothing on this site constitutes legal, financial, investment or compliance advice, and no representation or warranty is made as to the accuracy or completeness of any entry. Always verify against the original regulator publication (linked from each entry) before relying on any information here.
Total actions
333
Actions in 2026
9
Last 6 months
5
Total fines
AED 2.32B
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Showing 50 of 333 actions

# Regulator Date Fine (AED) Entity Entity type Action type Source
201 DFSA 2022-03-01 A Firm bank Fine
202 DFSA 2022-02-07 Paymentology Ltd fintech Reprimand
203 CBUAE 2021-12-30 600,000 exchange Fine
204 CBUAE 2021-12-27 352,000 exchange Fine
205 CBUAE 2021-12-14 19,500,000 bank Multiple
206 DFSA 2021-12-05 770,700 EQUITATIVA (DUBAI) LIMITED fund manager Multiple
207 DFSA 2021-12-05 770,700 Equitativa (Dubai) Limited fund manager Fine
208 CBUAE 2021-11-03 350,000 six Hawala providers other Fine
209 DFSA 2021-10-19 596,375 Zachary Cefaratti Multiple
210 DFSA 2021-10-07 7,073,907 Mr Mustafa Ahmed Talaat Abdel-Wadood fund manager Multiple
211 CBUAE 2021-10-04 17,311,000 exchange Fine
212 CBUAE 2021-09-13
213 DFSA 2021-08-08 497,527,892 Mr. Arif Masood Naqvi fund manager Multiple
214 CBUAE 2021-07-26
215 CBUAE 2021-07-15
216 DFSA 2021-06-16 5,505,000 KPMG Limited Liability Partnership other Fine
217 DFSA 2021-06-14 4,220,500 fund manager Multiple
218 DFSA 2021-06-08 6,239,000 Mr. Ashish Bhrugu Dave Multiple
219 ADGM 2021-05-24 18,350 AAF MENA Ltd other Fine
220 DFSA 2021-05-18 FFA Private Bank (Dubai) Limited bank Cease & Desist
221 ADGM 2021-05-10 36,700 Emirates Advocates LLP other Fine
222 ADGM 2021-05-06 18,350 Crowe Mak LLP other Fine
223 ADGM 2021-05-04 18,350 World Credit Solutions Ltd other Fine
224 ADGM 2021-04-25 18,350 Outer Temple Middle East Limited other Fine
225 CBUAE 2021-04-18 496,000 exchange Fine
226 CBUAE 2021-04-18 S&S Brokerage House broker Revocation
227 ADGM 2021-04-06 18,350 Middle East Trusted Advisors Ltd other Fine
228 ADGM 2021-04-04 18,350 Ocorian Corporate Services (ME) Limited other Fine
229 ADGM 2021-03-28 18,350 Reed Smith LLP other Fine
230 ADGM 2021-03-08 36,700 Elmar Capital SPV Limited other Fine
231 CBUAE 2021-01-31 600,000 exchange Multiple
232 CBUAE 2021-01-31 45,758,333 11 banks bank Fine
233 CBUAE 2021-01-28 504,000 exchange Fine
234 CBUAE 2021-01-17 other Warning
235 DFSA 2020-12-29 642,250 Gilles Rollet fund manager Multiple
236 CBUAE 2020-10-26 950,000 exchange Fine
237 DFSA 2020-09-17 605,550 Mr Ashish Bhandari other Multiple
238 DFSA 2020-04-09 2,248,939 La Tresorerie Limited other Fine
239 DFSA 2020-03-10 321,125 Multiple
240 CBUAE 2020-03-03 bank Warning
241 DFSA 2020-02-24 385,350 Enness Limited – DIFC Representative Office broker Fine
242 DFSA 2020-01-06 904,869 Morgan Gatsby Limited (MGL) fund manager Fine
243 ADGM 2019-12-16 146,800 Mr. Man Chung TSUI broker Multiple
244 ADGM 2019-12-16 1,174,400 AT Capital Markets Limited broker Multiple
245 DFSA 2019-11-24 Revocation
246 CBUAE 2019-11-19
247 DFSA 2019-09-25 11,010,000 Al Masah Capital Limited fund manager Fine
248 DFSA 2019-09-25 5,505,000 Al Masah Capital Management Limited fund manager Fine
249 DFSA 2019-09-01 Al Masah DIFC fund manager Revocation
250 DFSA 2019-09-01 Al Masah DIFC fund manager Multiple