The Securities and Commodities Authority (SCA) presents its kindest compliments and regards. We notify you that for the purposes of satisfying the financial fines imposed on violators of the provisions of Federal Law No.

(4) of 2000 regarding the Emirates Securities and Commodities Authority and Market, and the regulations and decisions issued pursuant thereto, the Chairman of the Authority’s Board of Directors’ Decision No.

(5/Chairman) of 2018 on the Imposition of Sanctions was issued, and therefore please be informed that SCA will apply the following procedures:

Set a time limit of (30) days from the date of receipt of notice of the fine decision for payment.

If the Decision of SCA is grieved, the fine decision shall be suspended until the grievance is decided upon.

If the grievance is dismissed, a time limit of seven (7) working days from the date of receipt of the notice of the grievance dismissal shall be set to pay the fine.

In case of failure to pay the fine within the time limit set forth above, a fine of delay of payment up to AED (1000) will be imposed for each working day of delay with a maximum of no more than the fine imposed.

Taking all legal procedures against violators pursuant to the provisions of the laws, regulations and decisions issued in this regard, in case of failure to pay the fine imposed at first and the delay fine.

Please note that the delay fines will be applied after thirty (30) days from the date of notice of this circular. SCA calls upon the concerned persons to pay of financial fines within the prescribed time limit in order to avoid any delay fines that may be imposed upon default of payment.