27 April 2014

Mr Khawar Qureshi QC, McNair Chambers, Doha for the applicant.

Mr Ben Jaffey, Blackstone Chambers, London for the respondent.

In the name of His Highness Sheikh Tamim Bin Hamad AI Thani, Emir of the State of Qatar

The Chairman of the Regulatory Tribunal (with whom Justice Li agrees):

1. This is an appeal by Karim Noujaim against a decision of the Qatar Financial Centre Regulatory Authority ("the Authority") dated 24 September 2013. By that decision the Authority imposed on the Appellant a financial penalty of US$20,000 and made a prohibition order under Article 62(3) of the Financial Services Regulations ("the FSR") prohibiting him from performing any function for any authorised firm in the Qatar Financial Centre ("the QFC") or being employed by any QFC authorised firm.