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Thank you for reading the news of "Securities": a fine of 150,000 dirhams was imposed on two licensed companies. We turn now to the most important and recent details.
The Securities and Commodities Authority has fined two approved companies operating in the raw materials and brokerage sector for a total value of 150,000 AED, according to its website. The Authority has fined Sognd Commodities 50,000 dirhams for the liquidation of customer balances, in violation of the provisions of paragraph 4 of Article 12.3 of the Council of the Authority's decision relating to the Regulation on the Listing and Trading of Goods and Commodity Contracts. The Authority also imposed a fine of AED 100,000 on Al Ramz Capital for failing to verify the customer's ability to pay for its purchases prior to the settlement date, in addition to making transfers between accounts affecting customer balances, which was contrary to Article 2. 18 of the resolution of the board of directors of the Authority.
This is the detail of the news "Securities": a fine of 150,000 dirhams was imposed on two companies approved today. We hope that we will have succeeded in providing you with all the details and information. To follow all our news, you can subscribe to the alert system or to one of our different systems to provide you with all the news.
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