By Staff writer
Financial Services Regulatory Authority strongly advised the market and investors to be aware and cautious of RGIB or persons purporting to be acting for it
The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has issued an alert on certain claims made by a Rothschild Gulf Investment Bank (RGIB).
The FSRA said RGIB had claimed on its website that it maintained private offices in the ADGM on Al Maryah Island and provided financial services, which has since been removed.
“RGIB has not been granted a Financial Services Permission as an Authorised Person or be an Exempt Person and is not an entity with any presence both legally and physically with ADGM,” the FRSA said.
“The FSRA is concerned that RGIB is misrepresenting itself. Furthermore, such misrepresentations may be linked to other illegal activities.”
The FRSA said it strongly advises the market and investors to be aware and cautious of RGIB or persons purporting to be acting for it, and “under no circumstances to transfer nor send money/assets to this named entity. Communications with RGIB is at the investor’s own risk”.
The FRSA said any enquiry concerning the status of a regulated entity and about the type of activities that FSRA licensed firms can conduct in the ADGM can be sent via this link.