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02 Jan 2024, 09:29 am | Clarification

Clarification of the Regulatory Status of Several Companies

The Dubai Financial Services Authority (DFSA) wishes to clarify the regulatory status of four companies, namely:

  • Seven Capitals Foreign Brokerage Limited, a company based in Mauritius;
  • Seven Capitals Foreign Brokerage Limited – Dubai Branch – REP. Office;
  • Seven Capitals Foreign Brokerage, a company based in Dubai; and
  • Seven Capitals Trading L.L.C a company based in Dubai.

The above-mentioned companies are not, and have never been, licensed by the DFSA to provide financial services or make financial promotions in or from the Dubai International Financial Centre (DIFC).

Seven Capitals Limited (DIFC Registration Number 5886) is a company which was incorporated in the DIFC. It was licensed by the DFSA on 1 February 2023 to provide certain financial services. A link to the entry for this firm on the DFSA’s public register can be found here. The DFSA reiterates that only this firm is permitted to provide financial services in or from the DIFC.

The DFSA issues such clarifications to avoid possible confusion. Previous clarifications can be found here.

DFSA Authorised Firms are subject to financial services laws and rules administered by the DFSA. These laws and rules are designed to protect users and potential users of the financial services industry in the DIFC, including consumers, when they engage with an Authorised Firm to obtain a financial product or financial service.

Only DFSA Authorised Firms are permitted to provide financial services in or from the DIFC, subject to the laws and rules mentioned above. If you are unsure of the regulatory status of a firm, please check the DFSA’s PUBLIC REGISTER before entering into any financial services activity with that firm.

If you have any concerns about the authenticity of any correspondence or documents that purport to be issued by the DIFC, DFSA or a DFSA regulated firm, you should direct your concerns to the DIFC on Tel: +971 4 362 2222 and to the DFSA via the DFSA Complaints function on: COMPLAINTS.

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