QFC 001/2011
Kasidf Chaudhry v QFC Regulatory Authority-1
Type
Case
Court
Qatar Financial Centre - Qatar Financial Centre Regulatory Tribunal
Jurisdiction
Qatar Financial Centre
Taxonomy
Financial Services & Activities, Financial Institutions, General Professions & Ethics
Copyright
LexisNexis
Decision date
7 May 2012
Hearing/Judgment date
7 May 2012
Panel
Chairman, Michael Thomas CMG, QC; Francois Gianviti; LaurenceLi
Catchwords
Financial Services - Regulation - Duties of financial officers - Appellant appointed as Head of Compliance of bank authorised by respondent QFC authority - Bank's capital position inaccurately stated to respondent – Respondent finding appellant knowingly in breach of requirements of skill, care, diligence and compliance – Respondent imposing penalty and prohibition order on appellant - Appellant appealing - Appropriate standards required by relevant regulations - Whether appellant in breach of standards - Whether penalty excessive – QFC Regulatory Authority's Individual's Rulebook, principles 1 and 2 – Article 84(2)(A) of Financial Services Regulations
7 May 2012
Signed by: Christopher Grout, Acting Registrar of the QFC Regulatory Tribunal on behalf of the Tribunal
In the name of His Highness Sheikh Hamad bin Khalifa Al-Thani, Emir of the State of Qatar
Chairman, Michael Thomas CMG, QC; Francois Gianviti; LaurenceLi
1. 1. Further to the direction of the Regulatory Tribunal in QFC Case No. 001/2011 it is hereby observed that Paragraph 14, line 6, of the Decision dated the 7 May 2012, should read 'Article 84 (2)(a)' not 'Article (2)(a)'.
See QFC Case No. 001/2011.