Latest news with #WaleedSaeedAlAwadhi
Khaleej Times
5 days ago
- Business
- Khaleej Times
Dh190 million unclaimed dividends distributed in H1 2025
Brokerage firms in the UAE distributed approximately Dh190 million in unclaimed dividends to rightful beneficiaries during the first half of 2025, according to the Securities and Commodities Authority (SCA). The SCA announced a 55 per cent increase in newly-issued licences and a 60 per cent rise in the total number of licensed companies compared to the same period in 2024. Licensed local investment funds increased by 79 per cent, driving a record 230 per cent growth in total assets under management. Meanwhile, registered foreign investment funds grew by 54 per cent, and the value of registered bond and sukuk programmes rose by 35 per cent compared to the first half of 2024. 'We are not merely keeping pace with global developments; we are actively reshaping them by setting new standards that unlock unprecedented opportunities for sustainable growth. Through an innovative regulatory framework, we are redefining transparency, accountability, and excellence, establishing the UAE as a global leader in advancing the international economy,' said Waleed Saeed Al Awadhi, CEO of the SCA. The SCA Board also approved the formation of a coordinating committee with members from the Financial Services Regulatory Authority (FSRA), Dubai Financial Services Authority (DFSA), Dubai Virtual Assets Regulatory Authority (VARA), and a distinguished group of industry experts, namely Bryan Stirewalt, Sahar Badran, and Saeed Mansour Al Awar to review draft legislation, evaluate existing regulatory frameworks, and propose amendments to enhance harmonisation between regulatory authorities. Furthermore, the SCA approved a new regulatory framework governing goodwill in public joint-stock companies, recognising it as an intangible asset that includes brand strength and corporate reputation. The framework aims to promote compliance with international accounting standards and establish clear valuation principles to support boards of directors, audit committees, and external auditors, while enhancing transparency and investor disclosure practices. These decisions underscore the SCA's impactful regulatory leadership and its role in advancing the integration of the global financial system through innovative practices that promote transparency and sustainability. They further elevate the UAE's position as a proactive leader shaping the future of the global economy.
Arabian Post
07-07-2025
- Business
- Arabian Post
UAE Embeds Robo-Advisers in Federal Financial Framework
Arabian Post Staff -Dubai The Securities and Commodities Authority has granted formal approval for licensed portfolio management firms to offer robo-advisory services across the UAE mainland, marking a substantial enhancement to the nation's digital investing infrastructure. This federal authorisation extends beyond the jurisdiction of financial free zones such as the Dubai International Financial Centre and Abu Dhabi's FSRA, bringing all robo-investment services under a unified regulatory umbrella. The move is expected to reinforce protections for retail investors via stricter oversight and compliance requirements. ADVERTISEMENT Under the new regime, firms will deliver automated investment recommendations powered by artificial intelligence and advanced algorithms. These platforms evaluate individual risk profiles to design tailored asset allocations, typically leveraging exchange‑traded funds or index funds at lower cost than conventional advisory channels. The SCA mandates a comprehensive governance framework: independent IT audits, stringent cybersecurity protocols, periodic algorithm reviews and transparent disclosures of fees and investment risks. Licensed providers will adhere to the existing discretionary and non‑discretionary portfolio management frameworks within client agreements. SCA CEO Waleed Saeed Al Awadhi described the regulation as a manifestation of the UAE's strategic digital transformation. He stated that integrating AI into investment decision-making will enhance efficiency and create 'smart, sustainable, and secure financial solutions,' reinforcing the UAE's goal of becoming a world-class financial hub. Market analysts note that assets under management in global robo-advisory were forecast to reach US $2.06 trillion in 2025, with user numbers hitting 34 million by 2029. In the UAE, platforms such as Sarwa, StashAway and Baraka currently operate under DIFC and FSRA regulation, but this federal licence allows them to onboard mainland clients directly. Retail investor appetite for technology-driven investment options has surged, as seen in the rising adoption of zero‑commission trading platforms including Robinhood, eToro and Interactive Brokers. The introduction of a federal licence for robo‑advisers is expected to broaden participation further. Industry experts emphasise both promise and caution. Vijay Valecha, chief investment officer at Century Financial, applauds the harmonisation of regulation across jurisdictions, stating it 'provides further protection and transparency to retail investors' and bolsters international competitiveness. Raaed Sheibani of StashAway commented that the clearer regulation framework will 'expand digital investing in the UAE' and boost investor confidence. However, concerns endure regarding the limitations of algorithmic advice. Rupert Connor of Abacus Financial Consultants warned that robo-advisers often lack capacity to handle complex scenarios involving tax planning, inheritance, or behavioural guidance during volatile markets. Financial coach Jay Adrian Tolentino added that algorithm-based systems may miss elements of personal context that can be crucial. Technical vulnerabilities, including outages or system failures, also remain a potential risk. With stricter federal oversight, the SCA expects a rise in trust and participation from mainland investors, leveraging automation to democratise wealth creation. The initiative aligns with the UAE's broader 'We the UAE 2031' vision of fostering a knowledge-based, resilient economy through fintech innovation.
Khaleej Times
01-07-2025
- Business
- Khaleej Times
UAE approves robo-advisory services for licensed portfolio management firms
The UAE's Securities and Commodities Authority (SCA) on Tuesday allowed licensed portfolio management firms to offer robo-advisory services, marking a strategic step toward establishing a secure digital investment environment in the country. The regulator said it approved the regulation of the robo-advisor service, allowing firms to provide services through digital platforms that utilise artificial intelligence (AI) technologies and advanced algorithms to deliver automated investment recommendations. To ensure investor protection, the SCA's regulatory framework sets mandatory independent IT audits, rigorous cybersecurity standards, regular reviews of algorithms and systems, and full disclosure of the service's costs and risks. Portfolio management services are typically provided by large banks and financial firms to their high-net-worth clients and private companies, enabling them to grow their wealth and achieve their financial goals. These firms provide tailored investment strategies, asset allocation and ongoing management of investment portfolios. According to Boston Consulting Group's Global Wealth Report 2024, the UAE's net wealth reached $2.9 trillion in 2023 as financial wealth grew by 10 per cent from 2022 to 2023. These services uphold high standards of governance, transparency, and investor protection within the approved portfolio management frameworks, whether discretionary or non-discretionary and in accordance with client agreements. Waleed Saeed Al Awadhi, CEO of the SCA, said 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. 'The integration of artificial intelligence 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,' said Al Awadhi. The robo-advisor services will advance the competitiveness of the UAE's 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. The Securities and Commodities Authority said robo-advisory services are part of its initiative to advance financial inclusion by broadening access to intelligent and secure investment solutions.
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.
Arabian Business
02-06-2025
- Business
- Arabian Business
UAE calls on financial influencers to obtain licence
Financial influencers in the UAE should obtain a licence to operate on digital platforms and social media, said the Securities and Commodities Authority (SCA). As part of its strategic efforts to regulate digital financial markets and enhance investor protection, the 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. UAE finfluencer licence Waleed Saeed Al Awadhi, CEO of the SCA, said: '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 in the UAE, or to report non-compliant practices, the SCA advises contacting it through its website or call the toll-free number 800 722823. The 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.
