The Dubai Financial Services Authority (DFSA) fined Deutsche Bank AG US$8.4 million (including a 20 per cent discount) for failures in governance and client take-on processes in its Private Wealth Management business in Dubai.

The cap of US$100,000 on fines imposed by the DFSA for regulatory breaches was removed in August 2014.

A copy of the decision notice is available. http://bit.ly/1yqQ0UK