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 […]

Guernsey’s Financial Services Commission has fined Generali Worldwide Insurance Company £150,000 for what it said were “failings in systems and controls” that occurred between 2008 and 2010. Generali Worldwide is an arm of the Trieste, Italy-based Generali Group, one of the world’s largest insurance companies. It is a separate company from Generali International, and focuses […]