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Dubai regulator fines ex-Deutsche Bank employee for misleading information

The DFSA fined Chetan Parmar, a former employee of Deutsche Bank AG's Dubai International Financial Centre branch, $25,000 for allegedly misleading the regulator.

The regulator said Parmar provided it with false information in July 2012 and April 2013 regarding the branch's private wealth management activities, adding that the action against Parmar is final as he has not referred the authority's decision to the Financial Markets Tribunal for review.