QFCRT 2/2023; [2023] QIC (RT) 2
Patrick Baeriswyl v Qatar Financial Centre Regulatory Authority
Type
Case
Court
QFC Regulatory Tribunal (Qatar)
Jurisdiction
Qatar Financial Centre, Qatar
Taxonomy
Money Laundering, Financial & Business Offences, Regulation & Offences, Directors
Decision date
17 May 2023
Panel
Sir William Blair, Chairman Justice Sean Hagan and Justice Dr Muna Al-Marzouqi
Catchwords
SEF responsibility - Money Laundering Offences - Director - Owner - PEP Risk - MLRO appointment
This case involved an appeal to the Regulatory Tribunal of a Qatar Financial Centre Regulatory Authority decision which had fined and prevented an individual from carrying out any function in the Qatar Financial Centre (QFC) for an indefinite period because of money laundering offences. A key issue was whether this individual who had been the SEF was personally responsible for breaches which had included a failure to appoint a suitably qualified and MLRO and failure to conduct proper risk assessments of a PEP.