| 24 Dec 2008 |
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DFSA approves withdrawal of licenses to conduct Financial Services in or from the DIFC
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Dubai, U.A.E., 24 December, 2008: The Dubai Financial Services Authority (DFSA)Dubai Financial Services Authority (DFSA)
has approved requests for voluntarily withdrawal of licenses from three (3) Authorised Firms, effective on the indicated dates: Jefferies International LimitedJefferies International Limited (17 December 2008), Wedge Alternatives Limited (21 December 2008), and Alternative Investment Strategies Management (Dubai) Limited (23 December 2008), to carry on Financial Services in or from the Dubai International Financial Centre (DIFC)Dubai International Financial Centre (DIFC).-Ends-
The Dubai Financial Services Authority (DFSADFSA
) is the independent regulator of financial and ancillary services conducted through the Dubai International Financial Centre (DIFC)Dubai International Financial Centre (DIFC), a purpose-built financial free-zone in Dubai. The DFSADFSA's regulatory mandate covers asset management, banking and credit services, securities, collective investment funds, custody and trust services, commodities futures trading, Islamic finance, insurance, an international equities exchange and an international commodities exchange.Paul M Koster was appointed Chief Executive of the DFSADFSA
on 1 December, 2008. He is the former Commissioner and Member of the Executive Board of the Autoriteit Financiële Markten (Netherlands Authority for the Financial Markets). Other positions previously held by him include Executive Vice President (Corporate Internal Audit), Royal Philips Electronics 1998-2001; Managing Partner Corporate Finance, Coopers & Lybrand 1988-1998; Chief Compliance Officer and Acting Commissioner of Quotations, Amsterdam Stock Exchange 1986-1988; and carried out a number of senior finance functions in his earlier career, having trained as an accountant with Arthur Andersen.He is a licensed Register (Chartered) Accountant and served as Chair of CESR-Fin from May 2006-December 2007 and was Chair of SISE (sub-committee on international standards endorsement) within CESR from May 2004-April 2006. He was also a member of the International Organisation of Securities Commissions (IOSCO) and represented the Netherlands on IOSCO's Chairs committees.
He is a Dutch national, married and has two adult children.
For further information please contact:
Ms. Angharad Irving - Jones
Manager, Communications and Strategic Planning
Dubai Financial Services Authority
Level 13, The Gate
Dubai, U.A.E.
Tel: +971 (0)4 362 1661
Fax: +971 (0)4 362 0801
Email: airvingjones@dfsa.ae
www.dfsa.ae
© Press Release 2008
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