With the launch of the Finfluencer License, the UAE’s Securities and Commodities Authority (SCA) is setting a new global standard in the regulation of digital finance. This move is far more than a regulatory formality—it is a strategic initiative aimed at redefining the role of financial authorities in the age of social media and digital influence. As H.E. Waleed Saeed Al Awadhi, CEO of the SCA, explains,
“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 license, the SCA aims to elevate international benchmarks of market integrity, foster greater transparency, and create a disciplined and trustworthy financial environment. Rather than restricting innovation, the SCA positions itself as an enabler of transformative change—one that adopts forward-thinking models to keep pace with the evolving dynamics of global finance and investment.
Innovation Through Incentives: No Fees for Three Years
To support the rollout of the license and encourage participation, the SCA has waived all registration, renewal, and legal consultation fees for a period of three years. This bold move aligns with the authority’s broader strategy to eliminate bureaucratic barriers and stimulate financial innovation, all within a sound and transparent regulatory framework.
Who Needs a Finfluencer License?
The license applies to individuals who publicly offer financial or investment recommendations related to regulated products or services within the UAE, whether through traditional media or digital platforms. Applicants must register with the SCA and adhere to strict compliance standards, ensuring robust investor protection and building trust in the local capital markets.
What Is a Finfluencer?
According to the SCA, a Finfluencer is any individual authorized to provide financial recommendations regarding the purchase, sale, or holding of financial products or virtual assets. This can take place through a wide variety of channels, including:
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Traditional or digital media
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Social media posts (written, visual, or audio)
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Blogs, seminars, webinars, or public appearances
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Financial analyses, forecasts, or reports targeting the UAE market
The core requirement is that these activities are conducted transparently and under regulatory supervision to ensure quality and investor safety.
Strengthening the UAE’s Role as a Global Financial Hub
This initiative is central to the SCA’s long-term strategy of positioning the UAE as a regional and global leader in finance. By embracing agile regulatory frameworks and aligning with international best practices, the SCA demonstrates its commitment to protecting market integrity, advancing financial literacy, and fostering innovation in the digital economy.
In an era where financial advice can go viral within seconds, the Finfluencer License ensures that such influence is backed by accountability, transparency, and a commitment to investor protection. It is a visionary approach that not only safeguards the financial landscape but also empowers it to grow.