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DFSA fines former private banker $980,020 for misleading and deceptive conduct

Dubai Financial Center, "The Gate" houses the Stock Exchange.
Dubai’s Stock Exchange Building. Photo: Siegfried Layda/Getty Images

Jean Hurley

2 min read
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The Dubai financial services regulator has now banned him from holding office or being employed by a DFSA-authorized firm.

The Dubai Financial Services Authority (DFSA) has imposed a fine of $980,020 (AED 3,599,613), after settlement discount, on Peter Georgiou, for misleading and deceptive conduct and for being knowingly involved in breaches of DFSA rules by his former employer Mirabaud (Middle East) Limited (MMEL) – an international banking group established in Switzerland.

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