The Capital Market Authority cancels 15 fees to support licensed companies and individuals

The Board of Directors of the Capital Market Authority approved the cancellation of 15 fees, as part of a comprehensive review of the fees system approved by the Authority, as part of its continuing efforts to develop the regulatory environment, keep pace with legislative developments, and enhance the efficiency of services provided to companies and individuals licensed in the financial markets in the UAE.

The review included a number of fees related to services and activities subject to the authority’s supervision, with the aim of aligning the fee structure with current regulatory requirements and developments that the sector has witnessed over the past years. This review resulted in the cancellation of 15 fees, which contributes to alleviating the burdens on licensed companies and individuals, simplifying the fee structure, and ensuring its consistency with the approved regulatory framework.

This step reflects the Authority’s keenness to periodically review the systems and procedures related to the financial markets, enhance the efficiency of the fees system and simplify its structure, in a way that achieves a balance between regulatory requirements on the one hand, and the needs of customers on the other hand, and enhances the clarity of fees associated with services subject to the authority’s supervision.

The CEO of the Capital Market Authority, Walid Saeed Al-Awadhi, said: “The Authority is committed to continuing to develop the fees system, to ensure that it keeps pace with the changes taking place in the financial markets, and responds to the needs of licensed companies and individuals. This review comes within the framework of our continuous endeavor to raise the efficiency of regulatory services and reduce the burdens on customers, in a way that contributes to enhancing the flexibility of the financial markets, supporting a more effective business environment and improving the quality of services provided by the Authority.”

The Authority confirmed that the fees included in the cancellation are distributed among a number of services and activities subject to its supervision, and come within the framework of the comprehensive review it conducted of its approved fees system. The Authority called on the companies and individuals concerned to review the decision published on its website to learn about the details of the services included in the cancellation and the mechanism for implementing the decision.

It is noteworthy that the Capital Market Authority was established in 2000 as the federal body responsible for regulating the capital markets in the UAE. It is responsible for supervising the securities and commodities markets and regulating their activities, protecting the rights of investors, and promoting transparency, integrity and fairness in market practices, in addition to supporting confidence and competitiveness. The Authority adopts an advanced regulatory framework that is consistent with international best practices and supports the continuous development of markets, in line with the national economic vision of the UAE.