The Securities and Commodities Authority (SCA) has introduced the region’s first “Finfluencer” licence, establishing a new regulatory framework for digital financial content creators in the UAE.
The move is part of the SCA’s broader strategy to enhance investor protection and ensure transparency across digital financial platforms, as online engagement with financial advice continues to grow.
New digital content rules
The licence is aimed at individuals providing investment-related advice, analysis, or promotional content through social media, blogs, public forums, or traditional media.
Applicants must register with the SCA and adhere to regulatory standards designed to protect investors and maintain market discipline.
A Finfluencer is defined as a person registered with the SCA to offer financial recommendations related to securities, virtual assets, or services through written, audio, or visual content across various platforms.
Focus on investor protection
Waleed Saeed Al Awadhi, CEO of the SCA, said: “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… 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.”
The licence supports the SCA’s goal of raising market integrity and aligns with international practices in digital financial regulation.
Three-year fee waiver
As part of the initiative, the SCA has waived all registration, renewal, and legal consultation fees for three years. This incentive is designed to reduce bureaucratic hurdles and encourage innovation within the UAE’s financial sector.
The Finfluencer licence is one element of a wider regulatory update intended to position the UAE as a competitive and trusted global financial hub. By formalising the role of digital financial influencers, the SCA aims to improve public trust, boost financial literacy, and ensure that market participants operate within a clear legal framework.
tanvir@dubainewsweek.com
