Reply To: Lawyers’ Guide on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organizations(2021)-UAE

Checkout Forums Civil Law Discourse Lawyers’ Guide on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organizations(2021)-UAE Reply To: Lawyers’ Guide on Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organizations(2021)-UAE

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advtanmoy
Keymaster

Once the violation by Lawyers is established in UAE, a reasoned decision shall be issued

UAE LAW

Undersecretary to impose any of the following administrative sanctions on the offender:

a. Warning
b. Administrative fine ranging between AED 50,000 (UAE Dirhams Fifty Thousand)and AED 5,000,000 (UAE Dirhams Five Million) per violation.
c. Preventing the offender from the exercise of profession in the relevant sector for the term stipulated in the decision.
d. Limiting the powers of directors whose liability for the violation is established. The
decision may include an appointment of a temporary controller.
e. Suspending the director whose liability for the violation is established, for the period specified by the decision or requiring his change, if permitted.
f. Suspending or limiting the practice of the profession for the period set out in the
decision.
g. Cancellation of the license.