MAC Sharaf Brokerage given three week suspension

10 July 2010

Emirates Securities and Commodities Authority has suspended Dubai- based brokerage, MAC Sharaf Securities for market rules violations, Bloomberg has reported. The brokerage lent clients funds to buy shares and charged them with late payment and administration fees, the regulator said in a letter dated June 21. The suspension began June 23 and will end July 13, according to the document.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.