Half Moon Investments, directors fined $37,500 for repeatedly missing filing deadlines

Dubai: The Registration Authority (RA) of Abu Dhabi Global Market (ADGM) has imposed financial penalties totalling $37,500 on Half Moon Investments Limited (HMIL) and its three directors for failing to file accounts and reports within the statutory deadline.

The company and its directors — Shaukat Murad, Zia Murad, and Manuel Mateos — did not submit financial statements for the year ending December 31, 2023, on time. As a result, the RA levied penalties of $7,500 against HMIL and $10,000 against each director.

The RA said the breaches were repetitive. In March 2023, HMIL and the same directors were fined for failing to file accounts for the financial year ending December 31, 2021.

ADGM’s RA emphasised that directors of most licensed entities are required to file annual accounts and reports, underscoring its commitment to international transparency standards, including those of the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes.

“Timely and accurate corporate reporting ensures transparency and strengthens market integrity,” the RA said in a statement. “The RA will continue to take all necessary actions to promote compliance with filing requirements, reinforce accountability and uphold the integrity of the regulatory system.”