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SAAD Financial Advisory Services’ license may be withdrawn

The Dubai Financial Services Authority…

September 29, 2009 3:16 by

The Dubai Financial Services Authority (DFSA) said on Tuesday that SAAD Financial Advisory Services (SAAD) might have its license withdrawn. SAAD’s parent company, LA Investments Limited (LAIL) has been “placed into liquidation in the UK” on September 21, says a statement from the DFSA. “The liquidators have advised the DFSA that they intend to withdraw SAAD’s license,” it adds.

Stephen John Akers and Gareth Rutt Morris of Grant Thornton UK LLP are acting as LAIL’s liquidators.

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