The Dubai Financial Services Authority has withdrawn the licence of Forsyth Partners Global Distributors to carry on financial services activities from the Dubai International Financial Centre. The firm failed to meet regulatory capital requirements and had been given until 26 August to remedy this. Forsyth said it agreed with the withdrawal of its DIFC financial services licences, and that its exit from Dubai was part of its global restructuring strategy and focus on the European market, with the opening of a European distribution unit in London. The regulator also withdrew the licence of Forsyth’s subsidiary Forsyth Partners (Middle East) at the firm’s request.