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/ 39 T ABLE OF C ONTENT S

Enforcement

Enforcement is a necessary component of an effective QFC Tribunal and Court judgments CDRS - Key Statistics for 2023

regulatory regime. It enables the QFCRA to take

appropriate enforcement action where breaches of the The QFCRA was party to four proceedings in

rules and regulations occur. The QFCRA has the requisite the Qatar International Court in 2023: Stage in CDRS Process 1 Jan – 31 December 2023
powers to act swiftly, decisively, and in a manner that
• Jean-Marc Mantegani v Qatar Financial Centre Enquiries to CDRS (whether in or outside jurisdiction) 61
is consistent with its stated policies and procedures,
Regulatory Authority [2023] QIC (RT) 1;
to achieve an effective and proportionate outcome.
• Patrick Baeriswyl v Qatar Financial Centre Out of scope matters 17

Regulatory Authority [2023] QIC (RT) 2;

2023 Summary Statistics • Rudolfs Veiss v Qatar Financial Centre CDRS matters assessed or under assessment 44
Regulatory Authority [2023] QIC (RT) 3; and

• Seven investigations commenced in 2023. • Qatar Financial Centre Regulatory Authority and CDRS matters referred to adjudicator 2

• No enforcement action was taken against Qatar Financial Centre Authority v Horizon Crescent

any firms or individual in 2023. Wealth LLC and Mohamed Abdulaziz Mohamed Al CDRS matters finalised by adjudicator 1
Emadi [2023] QIC (RT) CASE NO: CTFIC0019/2023.

Customer Protection

The Customer Dispute Resolution

Scheme (CDRS)

How the scheme works

An internal complaints-handling framework is

a requirement for authorised firms in the QFC.

when customer complaints are not satisfactorily
resolved by a firm’s internal framework, customers

can seek redress through an external independent

adjudication process, the CDRS. The CDRS has

been in operation since 2014 and has resulted in a
number of successful outcomes for customers.