Latest news with #SecuritiesAndCommoditiesAuthority
Khaleej Times
17 hours ago
- Business
- Khaleej Times
UAE authority clarifies no Golden Visa issuance for crypto investors
The information circulating on some websites and social media platforms regarding the UAE granting golden residency to cryptocurrency investors is false, authorities confirmed. The clarification was issued in a joint statement issued by the Federal Authority for Identity and Citizenship, Customs and Ports Security, the Securities and Commodities Authority, and the Virtual Assets Regulatory Authority (VARA).
Trade Arabia
03-06-2025
- Business
- Trade Arabia
UAE's SCA urges Finfluencers to register
The UAE's Securities and Commodities Authority (SCA) has called on all financial influencers (Finfluencers) operating across digital platforms and media channels to proactively register and obtain official authorised 'Finfluencer' status. This designation requires full compliance with regulatory standards to ensure content transparency and safeguard the rights of market participants, a Wam news agency report said. Waleed Saeed Al Awadhi, CEO of the SCA, stated: 'In today's rapidly evolving digital financial ecosystem, regulating Finfluencers activity has become imperative. Finfluencers play a pivotal role in shaping investor decisions. Official authorisation by the SCA underscores their commitment to professional standards and reinforces public trust in the integrity of financial content.' The SCA offers eligible individuals the opportunity to apply for authorised Finfluencer status, allowing them to share investment analyses and offer recommendations related to approved financial instruments or entities through digital or traditional media, as long as they remain in strict compliance with the SCA's standards. To further encourage adherence, the SCA is granting a three-year waiver on registration and renewal fees, along with access to legal advisory services. In parallel, the SCA urges the public to verify a Finfluencer's authorisation status before engaging with their content or acting on their recommendations. The SCA also encourages prompt reporting of any unauthorised activities via its official website or call centre, stressing that interactions with unauthorised individuals or entities may pose significant financial risks to investors. The SCA reiterates that public awareness and active engagement are the first line of defence against unreliable or unregulated financial content. To apply to become an Authorised Finfluencer recognised by the SCA, or to report non-compliant practices, interested people should visit the SCA website or call the toll-free number 800722823.
Zawya
02-06-2025
- Business
- Zawya
UAE: SCA calls finfluencers to obtain official licence
As part of its strategic efforts to regulate digital financial markets and enhance investor protection, the Securities and Commodities Authority (SCA) has called on all financial influencers (Finfluencers) operating across digital platforms and media channels to proactively register and obtain official authorized 'Finfluencer' status. This designation requires full compliance with regulatory standards to ensure content transparency and safeguard the rights of market participants. Waleed Saeed Al Awadhi, CEO of the SCA, stated, 'In today's rapidly evolving digital financial ecosystem, regulating Finfluencers activity has become imperative. Finfluencers play a pivotal role in shaping investor decisions. Official authorisation by the SCA underscores their commitment to professional standards and reinforces public trust in the integrity of financial content.' The SCA offers eligible individuals the opportunity to apply for authorised Finfluencer status, allowing them to share investment analyses and offer recommendations related to approved financial instruments or entities through digital or traditional media, as long as they remain in strict compliance with the SCA's standards. To further encourage adherence, the SCA is granting a three-year waiver on registration and renewal fees, along with access to legal advisory services. In parallel, the SCA urges the public to verify a Finfluencer's authorisation status before engaging with their content or acting on their recommendations. The SCA also encourages prompt reporting of any unauthorised activities via its official website or call centre, stressing that interactions with unauthorised individuals or entities may pose significant financial risks to investors. The SCA reiterates that public awareness and active engagement are the first line of defence against unreliable or unregulated financial content. To apply to become an Authorised Finfluencer recognised by the SCA, or to report non-compliant practices, please visit the SCA website or call the toll-free number 800722823. This initiative underpins the SCA's broader strategic vision to foster a transparent and trusted investment environment, reinforcing the UAE's global position as a leading financial hub committed to adopting best-in-class regulatory practices in the digital marketplace.
Zawya
28-05-2025
- Business
- Zawya
UAE: SCA launches region's first 'Finfluencer' licence to regulate digital financial content
ABU DHABI - The Securities and Commodities Authority (SCA) has officially launched the region's first 'Finfluencer' licence - an innovative regulatory milestone aimed at formalising and supervising digital financial content. This ground-breaking initiative seeks to establish a clear governance framework for individuals offering investment analysis, recommendations, and financial promotions across digital platforms. This initiative is designed to enhance investor protection in the UAE. Commenting on the initiative, Waleed Saeed Al Awadhi, CEO of the SCA, stated, 'Introducing the Finfluencer license is not merely a regulatory measure; it is a strategic move to redefine the role of regulators in the digital economy. Through this initiative, the SCA aspires to elevate global benchmarks of market integrity, foster transparency, and nurture a disciplined and trustworthy financial environment. "The SCA positions itself as an enabler of transformative change, adopting forward-thinking regulatory models that evolve with the fast-paced dynamics of the financial and investment landscape.' This initiative comes as part of a package of incentive measures adopted by the SCA to align its regulatory framework with the fast-moving landscape of digital finance. The SCA has waived registration, renewal and, legal consultation fees related to this service, for a period of three years. This is in line with efforts to eliminate government bureaucracy and promote financial innovation within a robust legal and regulatory framework. The licence is available to individuals who offer financial or investment recommendations related to regulated products or entities within the UAE through digital or traditional media. Eligible applicants must register with the SCA and comply with all applicable regulatory obligations, ensuring the highest standards of investor protection and reinforcing public trust in the local capital markets. A Finfluencer is an individual registered with the SCA to provide financial recommendations related to the purchase, sale, or holding of a financial product or virtual asset, or to offer recommendations related to a financial service or any local resource within the country. This may be done through traditional or modern media channels, such as various written or audio social media platforms, participation in seminars, meetings, or forums, blogging, public appearances by any means, or through statements, opinions, or analyses about the present or future value, price, or expected performance. It also includes individuals who engage the public through content, visuals, advice, recommendations, discussions, information, analyses, opinions, or reports related to financial investments or specific financial products within the country. This initiative is integral to the SCA's overarching strategic vision of elevating the UAE's position as a leading regional and global financial hub. By embracing agile and forward-looking regulatory approaches, the SCA reaffirms its commitment to safeguarding market integrity, advancing financial literacy, and aligning with international best practices in the rapidly evolving digital financial landscape.
