The UAE’s Securities and Commodities Authority (SCA) has issued the region’s first “Finfluencer” licence, representing a significant regulatory step in the digital finance area. This project is intended to govern persons who provide investment advice or financial insights through various media platforms. It attempts to create a controlled and transparent environment for digital financial content.
The license is intended for persons who use blogs, social media, seminars, or other channels to provide the public with opinions, analysis, or predictions about financial goods, services, or market performance. These persons must register with the SCA and follow all regulatory rules in order to maintain investor trust and market discipline.
Waleed Saeed Al Awadhi, CEO of the SCA, stated that the action represents a modern, strategic approach to regulation in a digital economy. The project is more than just a control mechanism; it also aims to improve financial literacy and market trust.
To encourage adoption, the SCA waived registration, renewal, and consultation fees for three years. This is consistent with broader initiatives to encourage innovation while reducing bureaucratic hurdles.
With this licensing scheme, the SCA emphasises its role as a facilitator for financial development.
