Securities and Commodities Authority advances digital transformation with robo-advisor service regulation
ABU DHABI (WAM)The Securities and Commodities Authority (SCA) has approved the regulation of the robo-advisor service as part of its transformational projects, marking a strategic step toward establishing a secure digital investment environment in the UAE.This regulatory framework reflects the SCA's commitment to digital transformation and the enhancement of smart financial services, aligning with global trends and investor expectations.It aims to advance the competitiveness of national financial markets, accelerate digital adoption, and contribute to the UAE's 'We the UAE 2031' vision of building a knowledge-based, competitive, and sustainable economy.Licensed portfolio management firms are now authorised to provide robo-advisory services exclusively through digital platforms that utilise artificial intelligence (AI) technologies and advanced algorithms to deliver automated investment recommendations. These services uphold the highest standards of governance, transparency, and investor protection within the approved portfolio management frameworks, whether discretionary or non-discretionary, and in accordance with client agreements.AI-powered robo-advisory services contribute to building balanced investment portfolios tailored to investors' goals and risk tolerance, enhancing asset management efficiency and supporting the sector's ongoing digital transformation.The regulatory framework sets strict measures to ensure quality performance and investor protection, including mandatory independent IT audits, rigorous cybersecurity standards, regular reviews of algorithms and systems, and full disclosure of the service's costs and risks.Waleed Saeed Al Awadhi, CEO of the SCA, commented, 'The regulation of the robo-advisor service is a clear manifestation of our strategic vision to build a forward-looking regulatory framework that keeps pace with the profound shifts in the global financial sector and redefines investor protection standards in line with accelerating digital advancements."The integration of AI into investment decision-making is not merely a technological development; it is a transformative turning point that enhances portfolio management efficiency and unlocks unprecedented opportunities to empower investors with smart, sustainable, and secure financial solutions.'He added that this project reinforces the UAE's position as a world-class financial centre by advancing continuous innovation, and implementing dynamic regulatory frameworks designed to address future market challenges.This regulation is a cornerstone of a series of strategic initiatives launched by the SCA to advance financial inclusion and broaden access to intelligent and secure investment solutions.The SCA continues to lead proactive efforts to build a resilient, future-ready financial ecosystem anchored in transparency, robust governance, and innovation that is aligned with global financial transformations, and reinforces the UAE's position as a regional and global hub for the digital economy.
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