The United Arab Emirates has introduced a new licensing
requirement for individuals who create financial content online. The Securities
and Commodities Authority (SCA) has launched what it calls a “finfluencer”
licence. This is the first licence of its kind in the region.
The licence is aimed at influencers who offer investment
advice, market analysis, or financial promotions through digital channels. This
includes social media, blogs, YouTube, podcasts, and webinars. It also applies
to in-person events, Khaleej Times reported.
Licence Now Mandatory for Investment Content
According to the SCA, the goal is to improve transparency
and protect investors. The agency wants to ensure that financial content shared
online is accurate, responsible, and legally compliant.
Waleed Saeed Al Awadhi, CEO of the SCA, said: “This is
a strategic step to reshape how regulators operate in the digital economy.”
“SCA aspires to elevate global benchmarks of market
integrity, foster transparency, and nurture a disciplined and trustworthy
financial environment. The SCA positions itself as enablers of transformative
change, adopting forward-thinking regulatory models that evolve with the
fast-paced dynamics of the financial and investment landscape.”
The licence applies to anyone in the UAE offering
recommendations on buying or selling financial products. It also covers content
about virtual assets, trading platforms, or investment services. Individuals
who share financial analysis or forecasts must also be licensed.
You may find it interesting at FinanceMagnates.com: FCA
Warns Tech Firms Not Doing Enough to Stop Illegal Forex Finfluencers.
Finfluencers Face Rules, But No Fees
To support the rollout, the SCA has waived all registration,
renewal, and legal consultation fees for the next three years. This move is
expected to make the process easier for content creators. Finfluencers who
register must follow regulatory guidelines set by the SCA.
The United Arab Emirates has introduced a new licensing
requirement for individuals who create financial content online. The Securities
and Commodities Authority (SCA) has launched what it calls a “finfluencer”
licence. This is the first licence of its kind in the region.
The licence is aimed at influencers who offer investment
advice, market analysis, or financial promotions through digital channels. This
includes social media, blogs, YouTube, podcasts, and webinars. It also applies
to in-person events, Khaleej Times reported.
Licence Now Mandatory for Investment Content
According to the SCA, the goal is to improve transparency
and protect investors. The agency wants to ensure that financial content shared
online is accurate, responsible, and legally compliant.
Waleed Saeed Al Awadhi, CEO of the SCA, said: “This is
a strategic step to reshape how regulators operate in the digital economy.”
“SCA aspires to elevate global benchmarks of market
integrity, foster transparency, and nurture a disciplined and trustworthy
financial environment. The SCA positions itself as enablers of transformative
change, adopting forward-thinking regulatory models that evolve with the
fast-paced dynamics of the financial and investment landscape.”
The licence applies to anyone in the UAE offering
recommendations on buying or selling financial products. It also covers content
about virtual assets, trading platforms, or investment services. Individuals
who share financial analysis or forecasts must also be licensed.
You may find it interesting at FinanceMagnates.com: FCA
Warns Tech Firms Not Doing Enough to Stop Illegal Forex Finfluencers.
Finfluencers Face Rules, But No Fees
To support the rollout, the SCA has waived all registration,
renewal, and legal consultation fees for the next three years. This move is
expected to make the process easier for content creators. Finfluencers who
register must follow regulatory guidelines set by the SCA.
This post is originally published on FINANCEMAGNATES.
