Article (3)
Administrative Fines
Administrative fines shall be imposed for the violations listed below, as specified opposite
each of them:
No. Violation Description Administrative
Fine/(AED)
1
Delay in renewing the registration of a public joint-
stock company, within (30) thirty days from the date
of expiry of the registration.
(1,000) per month, with
a maximum of (10,000)
annually.
2
Delay in publishing amendments to the official
instrument, within (30) days from the date of the
amendment.
(1,000) per month, with
a maximum of (10,000)
annually.
3
Delay in renewing the registration of the auditing
company in the Auditors Register, within (30) days
from the date of expiry of the registration.
(1,000) per month, with
a maximum of (10,000)
annually.
4
Delay by the auditing company in notifying the
Authority of changing the person responsible for
auditing the company's or the investment fund's
accounts, within (30) days from the date of the
change.
(2,000) per month, with
a maximum of (10,000)
annually.
5
Delay by the auditing company in notifying the
Authority of filing a lawsuit in the State against
another auditing company regarding the practice of
the profession, within (30) days from the date of
filing the lawsuit.
(2,000) per month, with
a maximum of (10,000)
annually.
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Cabinet Resolution of 2017 Regarding the Fees for Certain Services Provided by the Securities and
Commodities Authority
3
No. Violation Description Administrative
Fine/(AED)
6
Delay by the auditing company in notifying the
Authority of any modification to its data, within (30)
days from the date of the modification.
(2,000) per month, with
a maximum of (10,000)
annually.
