Dubai's DFSA fines La Tresorerie for 'serious breaches'
The Dubai Financial Services Authority (DFSA) has announced that it has fined La Tresorerie Limited about $612,790 following “multiple, serious breaches” of regulations, mainly stemming from illegal services that provided cash to clients, it was announced on Thursday. In a statement, the DFSA said that the illegal cash service was “in systematic operation” for almost two years between February 2015 and January 2017, with the full knowledge of La Tresorerie’s senior management at that time. The current senior management of La Tresorerie was not involved in the Illegal Cash Service and reported it to the DFSA upon discovering it.
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