“Securities and Commodities” launches the first “Finluense” license in the region

The Securities and Commodities Authority has announced the launch of the “Finluencer” license, the first of its kind in the region, in a strategic move aimed at regulating digital financial content, governance of the activities of influencing individuals in providing investment analyzes and recommendations, and financial marketing through digital platforms.

This initiative comes to enhance the protection of investors in the UAE financial markets.

On this occasion, the CEO of the Securities and Commodities Authority, Walid Saeed Al -Awadi, stated: “The launch of the financial influence license is not just an organizational procedure, but rather a strategic step aimed at redefining the role of regulatory authorities in light of the digital economy. The authority seeks through this initiative to upgrade global standards of market integrity, enhance transparency, and establish a financial environment characterized by discipline and trust. We believe. In turn, as an organizational destination for change, and is able to cause a transformative economic impact through the adoption of innovative organizational models that keep pace with the accelerated developments in the money and investment industry. “

This initiative comes within a package of incentive procedures adopted by the authority to facilitate the practice of digital financial activities, where the applicants were exempt from registration and renewal fees, and legal consultations related to this service for a period of three years, in the context of supporting the trend towards the bureaucracy of government bureaucracy and encouraging financial innovation within a clear legal and regulatory framework.

Investors protection

The Authority provides individuals residing within the country the opportunity to obtain a “Finluense” financial influence, which enables them to provide financial or investment recommendations related to licensed products or companies, through traditional or digital media. This license is required to register with the authority and comply with all the approved regulatory controls and conditions, in order to ensure the protection of investors and enhance the public’s confidence in the local financial market.

The financial influence is intended to be the person registered with the authority to provide financial recommendations related to the purchase, sale, or retention of a financial product or a virtual origin or a recommendation related to financial service or any source within the country, through traditional or modern media such as various social media, written or audio or other or participating in seminars or meetings or forums or using blogs or appearing to the public by any other means or through statements or expressing opinion or analyzes about the current value Or future, price, or expected performance, or that the public participates through content, visuals, advice, recommendations, discussions, information, analyzes, opinions, or reports related to financial investments or a specific financial product within the country.

The authority confirms that this step comes within the framework of its strategic vision aimed at enhancing the competitiveness of financial markets in the UAE, and providing a safe and transparent investment environment that keeps pace with global best practices, and establishes the state’s position as a leading financial center at the regional and global levels, by adopting innovative organizational tools that are in line with the developments of the global digital economy.