Page 39 - Annual Report 2024 EN

/ 39 T ABLE OF C ONTENT S

Enforcement

Enforcement is a necessary component of an effective QFC Tribunal and Court Judgments

regulatory regime. It enables the QFCRA to take
appropriate enforcement action where breaches of the The QFCRA was party to 6 proceedings in the Qatar QFCRA v Robert Sharratt

rules and regulations occur. The QFCRA has the requisite International Court in 2024:
On 28 February 2024, the QFC Court (First Instance
powers to act swiftly, decisively, and in a manner that
QFCA v Horizon Crescent Wealth LLC (HCW) and Circuit) ordered that Mr Sharratt pay the QFCRA
is consistent with its stated policies and procedures,
QFCRA (First Interested party) and Mohamed financial penalty in the amount of QAR 584,121
to achieve an effective and proportionate outcome.
Abdulaziz Al-Emadi (Second Interested Party) plus interest calculated at the rate of 5% per annum

– [worldwide freeze order application] from 18 November 2022 to the date of payment in
2024 Statistics addition to paying the cost incurred by the QFCRA.
On 8 January 2024, the QFC Court (First Instance

Circuit) ordered the wind up of HCW under
Rudolfs Veiss v QFCRA
the provisions of the Insolvency Regulations

and the appointment of joint liquidators. On 4 September 2024, the QFC Court (Appellate

Division) ordered that Mr Veiss pay the QFCRA a

QFCRA v Jean-Marc Mantegani financial penalty by instalments of USD 25,000

beginning on 30 September 2024, and thereafter 4
On 28 February 2024, the QFC Court (First Instance
further payments of USD 25,000 on 30 September
Circuit) ordered that Mr Mantegani pay the QFCRA
of each succeeding year, in addition to paying
financial penalty in the amount of QAR 1,092,606
75% of the QFCRA’s the cost of the appeal.
7 plus interest calculated at the rate of 5% per annum
from 18 November 2022 to the date of payment in
Matters received in 2024 addition to paying the cost incurred by the QFCRA.

QFCRA v Luis Pablo De Laplana Moraes

On 28 February 2024, the QFC Court (First Instance

Circuit) ordered that Mr Laplana pay the QFCRA
financial penalty in the amount of QAR 546,182

plus interest calculated at the rate of 5% per annum

from 30 December 2022 to the date of payment in

addition to paying the cost incurred by the QFCRA.

1

QFCRA v Patrick Baeriswyl
Investigation commenced

On 28 February 2024, the QFC Court (First Instance
in 2024 Circuit) ordered that Mr Baeriswyl pay the QFCRA

financial penalty in the amount of QAR 728,000
plus interest calculated at the rate of 5% per annum

from 18 November 2022 to the date of payment in

addition to paying the cost incurred by the QFCRA.