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Rudolfs Veiss vs Qatar Financial Centre Regulatory Authority

Regulatory Tribunal
RTFIC0002/2023 Rudolfs Veiss vs Qatar Financial Centre Regulatory Authority
Neutral Citation
[2023] QIC (RT) 3
Date
12 October 2023
Status
Keywords
Regulatory Tribunal
Decision Notices
Financial services
Prohibition
Financial Penalty
AML/CFT Rules
Compliance
Lack of integrity
Lack of due skill, care and diligence
Insurance mediation
Judges
Sir William Blair
Edwin Glasgow CBE KC
Dr. Muna Al-Marzouqi
Summary

The Regulatory Tribunal of the Qatar Financial Centre (QFC) reviewed an appeal by Rudolfs Veiss against a decision by the Qatar Financial Centre Regulatory Authority (QFCRA) to impose a financial penalty of QAR 1,820,500 ($500,000) and a five-year prohibition from working in the QFC due to breaches during the period from April to December 2020. The case involved onboarding new customers against restrictions, amending document dates, providing inaccurate client lists, and obstructing the QFCRA's investigation. The tribunal, led by Sir William Blair, heard the appeal over two days in July 2023 and received extensive documentation and witness testimonies.

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Judges

  • Sir William Blair

    England

  • Edwin Glasgow CBE KC

    United Kingdom

  • Dr. Muna Al-Marzouqi

    Qatar

Judgment Content

Appellate History

Other Judgments related to the same case

RTFIC0002/2023 Rudolfs Veiss vs Qatar Financial Centre Regulatory Authority

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    [2024] QIC (A) 10

    04 September 2024
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