Step 1: Disgorgement
DFSAwill seek to deprive a firm of the economic benefits derived directly or indirectly from a contravention (which may include the profit made or loss avoided) where it is practicable to quantify this. The DFSAwill ordinarily also charge interest on the benefit from the date when the contravention occurred until the date of the final decision. Interest will be charged at a minimum rate of 1% over the three months Emirates Interbank Offer Rate (“EIBOR”), or at such other rate as the DFSA considers appropriate having regard to the prevailing market lending rates, at the time the contravention occurred. The maximum rate that will be charged is 12%.