UAE: SCA issues advisory for investors against dealing with certain companies
ABU DHABI (ALETIHAD)In a notice issued on Thursday, the SCA has advised the investing public to refrain from dealing with certain companies, as they are not licensed to conduct financial activities or provide services regulated by the SCA.Investors are strongly encouraged to verify the licensing status of any entity before engaging in any financial transactions. - Sigma one capital- Sigma wealth world financial -Sigma One Cap Marketing ServicesThe SCA bears no responsibility for any transactions or dealings conducted with unlicensed companies, the statement added.
The decision was taken on the basis of the regulatory role of the Securities and Commodities Authority (SCA) to ensure sound transactions and protect investors in accordance with the provisions of the Federal Law No. (4) Of 2000 concerning the Emirates Securities and Commodities Authority and Market and the regulations issued thereunder, and pursuant to the Chairman of the SCA Board of Directors' Decision No. (9/R.M) of 2017 concerning the Controls for Publishing Warnings.
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