The Dubai Financial Services Authority, the regulator overseeing the Dubai International Financial Centre, has fined Abu Dhabi-based Vault Wealth Limited $109,200 for carrying out financial services without the proper authorisation. According to the regulator, staff at the firm operated out of a DIFC office between February and May 2024 while advising clients on financial products and arranging investment deals, none of which they were licensed by the DFSA to do. The final penalty reflects a 30 percent reduction from an initial fine of $156,000, a discount typically applied when a firm cooperates with the regulator during its investigation. Alan Linning, the DFSA's Managing Director of Enforcement, said authorisation granted by another regulator does not entitle a firm to conduct financial services in or from the DIFC, underlining that licensing in the free zone is treated as entirely separate from licences held elsewhere in the UAE or abroad. The case is the latest reminder of how strictly the DFSA polices the boundary between DIFC-licensed activity and services offered by firms authorised only outside the centre. Even companies that hold legitimate licences under other UAE regulators can still face enforcement action if they provide DIFC-regulated services without separately registering with the DFSA. The ruling fits into Dubai's broader effort to protect the credibility of its international financial centre, which positions itself as a trusted hub for cross-border finance in the region.