Dubai regulator fines defunct wealth firm nearly $250,000

The Dubai Financial Services Authority had announced that it has fined Morgan Gatsby Limited, approximately USD 246,000 (approx. AED 900,000), for multiple serious breaches of DFSA legislation.   The DFSA had previously suspended MGL’s licence on 8 November 2018 due to concerns regarding MGL’s non-compliance with DFSA legislation. The DFSA’s action…