Why did Abu Dhabi Global Market regulator impose a $122,500 fine on Sarwa?

The Financial Services Regulatory Authority  of Abu Dhabi Global Market (ADGM) has levied a fine of $122,500 (Dhs449,881) on Sarwa Digital Wealth Capital (Sarwa). The penalty arises from Sarwa’s contravention of FSRA regulations by offering securities without an approved prospectus. Its violations included: Sarwa, an FSRA-licenced firm, distributed offers to…