June 10, 2018 / 6:25 PM / a year ago

UAE regulator assessing impact of Abraaj woes on investors

ABU DHABI, June 10 (Reuters) - United Arab Emirates’ top securities regulator is working with the Dubai Financial Services Authority (DFSA) to ascertain whether local investors have been affected by the financial woes of private equity firm Abraaj, the watchdog said on Sunday.

“We are coordinating with DFSA to see where national investors are affected,” Obaid al Zaabi, chief executive of the UAE’s Securities & Commodities Authority, told reporters.

The DFSA, which regulates Abraaj, has made no comment on the firm, which is grappling with allegations by some investors that it misused their money. Abraaj has denied any wrongdoing. (Reporting by Stanley Carvalho Writing by Saeed Azhar Editing by David Goodman)

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