Archives

Regulatory Watch News

• 

  Driving transparency, innovation, and compliance: the DFSA hosts Annual Outreach and releases 2024 Cyber Thematic Review

  DFSA

  November 19, 2024

  Dubai, UAE, 19 November 2024: The Dubai Financial Services Authority (DFSA), the independent regulator of financial services conducted in and from the Dubai International Financial Centre (DIFC), today hosted its Annual Outreach session, drawing more than 500 participants from across the financial services sector. The event underscores the regulator’s commitment to enhancing industry collaboration, innovation, and compliance.

• 

  Lagos Court Jails NOGASA Chair, Fatuyi Phillips 21 Years for N43.5m Fraud

  EFCC

  November 19, 2024

  Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on Monday, November 18, 2024, convicted and sentenced Fatuyi Yemi Philips, Chairman, Natural Oil and Gas Suppliers Association of Nigeria, NOGASA, to 21 years imprisonment for N43.5m fraud. The Lagos Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on April 5, 2022, arraigned Philips alongside his firm, Oceanview Oil and Gas Limited, on a two-count charge bordering on obtaining money by false pretence to the tune of N43, 502,000.00.

• 

  SFC withdraws Restriction Notice to broker over client’s suspected insider dealing after obtaining court order to freeze assets

  Securities and Futures Commission

  November 19, 2024

  The Securities and Futures Commission (SFC) has withdrawn the Restriction Notice prohibiting Bright Smart Securities International (H.K.) Limited (Bright Smart) from disposing of or dealing with proceeds or assets in the account of Mr Barry Kwok Sze Lok in connection with suspected insider dealing in the shares of I.T Limited (I.T)