The Emirates Securities and Commodities Authority (Esca) has suspended 11 brokerage firms, reported Gulf News. The action has been taken as the companies have failed to fulfil new requirements regarding paid-up capital levels and bank guarantees by an October 1 deadline. Licensed firms are now required to have a paid-up capital of $8.1m and bank guarantees of $5.4m. [AMEInfo.com]



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Posted: 10|1|07 at 3:35 am. Filed under: News.