UAE Central Bank revokes licence of brokerage firm

The Central Bank of the UAE (CBUAE) has taken action against a brokerage firm that failed to carry out one or more of its licensed activities for over a year.

The authority has revoked the licence of S&S Brokerage House and also struck its name off the register.

It also added that the time limit to appeal the decision expired on May 9.

As the supervisory authority of brokerage firms operating in the UAE, the CBUAE ensures that all entities abide by the rules and standards, in order to safeguard the transparency and integrity of the business.