Latest news with #SecuritiesandCommoditiesAuthority
Al Etihad
28-05-2025
- Business
- Al Etihad
SCA launches region's first 'Finfluencer' licence to regulate digital financial content
28 May 2025 10:05 ABU DHABI (WAM) The Securities and Commodities Authority (SCA) has officially launched the region's first 'Finfluencer' licence - an innovative regulatory milestone aimed at formalising and supervising digital financial ground-breaking initiative seeks to establish a clear governance framework for individuals offering investment analysis, recommendations, and financial promotions across digital platforms. This initiative is designed to enhance investor protection in the on the initiative, Waleed Saeed Al Awadhi, CEO of the SCA, stated, '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 initiative, the SCA aspires to elevate global benchmarks of market integrity, foster transparency, and nurture a disciplined and trustworthy financial environment."The SCA positions itself as an enabler of transformative change, adopting forward-thinking regulatory models that evolve with the fast-paced dynamics of the financial and investment landscape."This initiative comes as part of a package of incentive measures adopted by the SCA to align its regulatory framework with the fast-moving landscape of digital SCA has waived registration, renewal and, legal consultation fees related to this service, for three years. This is in line with efforts to eliminate government bureaucracy and promote financial innovation within a robust legal and regulatory licence is available to individuals who offer financial or investment recommendations related to regulated products or entities within the UAE through digital or traditional media. Eligible applicants must register with the SCA and comply with all applicable regulatory obligations, ensuring the highest standards of investor protection and reinforcing public trust in the local capital markets.A Finfluencer is an individual registered with the SCA to provide financial recommendations related to the purchase, sale, or holding of a financial product or virtual asset, or to offer recommendations related to a financial service or any local resource within the country. This may be done through traditional or modern media channels, such as various written or audio social media platforms, participation in seminars, meetings, or forums, blogging, public appearances by any means, or through statements, opinions, or analyses about the present or future value, price, or expected also includes individuals who engage the public through content, visuals, advice, recommendations, discussions, information, analyses, opinions, or reports related to financial investments or specific financial products within the country. This initiative is integral to the SCA's overarching strategic vision of elevating the UAE's position as a leading regional and global financial hub. By embracing agile and forward-looking regulatory approaches, the SCA reaffirms its commitment to safeguarding market integrity, advancing financial literacy, and aligning with international best practices in the rapidly evolving digital financial landscape.
Hi Dubai
19-05-2025
- Business
- Hi Dubai
Salik Achieves ISO 37001 Certification for Anti-Bribery Management System
Salik Company PJSC (Salik), the exclusive toll gate operator of the Emirate of Dubai, has achieved a major governance milestone by receiving the prestigious ISO 37001 certification for its Anti-Bribery Management System (ABMS). This global recognition underscores Salik's unwavering commitment to integrity, transparency, and ethical excellence across all its operations. The certification was awarded following a comprehensive evaluation of Salik's Anti-Bribery and Anti-Fraud framework, which is aligned with leading regulatory standards including those of the Securities and Commodities Authority (SCA), Dubai Financial Market (DFM), and UAE Companies Law (CCL). Salik's Compliance Section, owner of Anti Bribery management system within Salik, led the certification process, reinforcing the company's proactive approach to fostering a strong culture of accountability and corporate governance. Mr. Ibrahim Sultan Al Haddad, CEO of Salik, said: "Achieving ISO 37001 certification marks an important milestone in Salik's journey towards becoming a global benchmark in corporate governance and ethical business conduct. It reflects our deep commitment to operating with the highest standards of transparency and accountability, while creating sustainable value for our shareholders, stakeholders, and the broader community." ISO 37001 is the international standard for Anti-Bribery Management Systems, specifying a series of measures organisations can implement to prevent, detect, and address bribery. By meeting this standard, Salik demonstrates it has instituted best-in-class internal controls and proactive measures to mitigate corruption risks. This achievement strengthens Salik's position as a well-governed listed entity and enhances investor confidence in its ethical and transparent business practices. News Source: Salik
Khaleej Times
22-04-2025
- Business
- Khaleej Times
Traze earns UAE's SCA first category license, reinforcing Its commitment to transparency
The milestone marks a significant step in Traze's mission to redefine the trading experience, offering a transparent, accessible, and fair investing environment for traders in the MENA region and beyond Traze, an innovative online trading company dedicated to bringing crystal clarity to investing, has announced that it has secured the prestigious SCA First Category License from the UAE's Securities and Commodities Authority (SCA). This milestone marks a significant step in Traze's mission to redefine the trading experience, offering a transparent, accessible, and fair investing environment for traders in the MENA region and beyond. The SCA First Category License grants Traze the ability to offer a wide range of financial services, solidifying its position as a trusted partner for both retail and institutional investors in the UAE and the broader region. In this context, Dubai stands out as a leading international financial hub in the MENA region, offering a tax-free environment, world-class infrastructure, and a regulatory framework aligned with international standards. These advantages make Dubai the ideal location for financial services companies, providing them with the perfect environment for growth, innovation, and attracting investment. Celebrating this achievement with Traze's team at its headquarters in Boulevard Plaza Tower 1 - Downtown Dubai, Erkin Kamran, Traze CEO commented: "Receiving the SCA First Category License is a testament to our unwavering commitment to creating a trading ecosystem built on trust, transparency, and innovation. This regulatory milestone allows us to further our mission of making investing more accessible and empowering traders with the tools and education they need to succeed." With this regulatory approval, Traze goes one significant step further into consolidating as a trusted brand, and will continue to expand its offerings in the region, ensuring that traders of all levels have access to world-class financial instruments and cutting-edge technology. The company's focus on demystifying trading through intuitive tools and comprehensive educational resources remains at the heart of its successful differentiation strategy. "This is an exciting milestone for Traze and for traders across the UAE and the wider MENA region. With the SCA First Category License, we are uniquely positioned to provide a secure and transparent trading environment that meets the highest regulatory standards. We are committed to supporting traders at every step of their journey, helping them craft their own bespoke portfolios with confidence." added Osama Al Saifi, managing director for MENA at Traze. The acquisition of the UAE's SCA First Category License underscores Traze's ongoing efforts to enhance regulatory compliance and investor protection, while fostering a dynamic and inclusive trading community in the MENA region. Furthermore, Traze will be attending the Money Expo in Abu Dhabi for the first time as a first-tier sponsor to first handedly engage with the region's investors and business community, as well as to share the latest innovations on its trading platform on April 23 and 24. As Traze continues to expand, it remains dedicated to delivering unparalleled clarity and confidence in the world of online trading. For more information about Traze and its services, visit:
Gulf News
22-04-2025
- Business
- Gulf News
Online trading company Traze gains UAE's SCA First Category Licence
Traze, an innovative online trading company dedicated to bringing crystal clarity to investing, has secured the prestigious SCA First Category Licence from the UAE's Securities and Commodities Authority (SCA). This milestone marks a significant step in Traze's mission to redefine the trading experience, offering a transparent, accessible, and fair investing environment for traders in the Middle East and North Africa (Mena) and beyond. The SCA First Category Licence grants Traze the ability to offer a wide range of financial services, solidifying its position as a trusted partner for both retail and institutional investors in the UAE and the broader region. In this context, Dubai stands out as a leading international financial hub in the Mena, offering a tax-free environment, world-class infrastructure, and a regulatory framework aligned with international standards. These advantages make Dubai the ideal location for financial services companies, providing them with the perfect environment for growth, innovation, and attracting investment. 'Receiving the SCA First Category Licence is a testament to our unwavering commitment to creating a trading ecosystem built on trust, transparency, and innovation,' said Erkin Kamran, CEO of Traze. 'This regulatory milestone allows us to further our mission of making investing more accessible and empowering traders with the tools and education they need to succeed.' Consolidating as a trusted brand With this regulatory approval, Traze goes one significant step further into consolidating as a trusted brand and will continue to expand its offerings in the region, ensuring that traders of all levels have access to world-class financial instruments and cutting-edge technology. The company's focus on demystifying trading through intuitive tools and comprehensive educational resources remains at the heart of its successful differentiation strategy. 'This is an exciting milestone for Traze and for traders across the UAE and the wider Mena,' said Osama Al Saifi, Managing Director for Mena at Traze. 'With the SCA First Category Licence, we are uniquely positioned to provide a secure and transparent trading environment that meets the highest regulatory standards. We are committed to supporting traders at every step of their journey, helping them craft their own bespoke portfolios with confidence.' The acquisition of the UAE's SCA First Category Licence underscores Traze's ongoing efforts to enhance regulatory compliance, and investor protection while fostering a dynamic and inclusive trading community in Mena. First-tier sponsor of Money Expo Furthermore, Traze, headquartered in Boulevard Plaza Tower 1, Downtown Dubai, will attend the Money Expo in Abu Dhabi for the first time as a first-tier sponsor to engage first-hand with the region's investors and business community, as well as to share the latest innovations on its trading platform on April 23-24. As Traze continues to expand, it remains dedicated to delivering clarity and confidence in the world of online trading.
Khaleej Times
18-04-2025
- Business
- Khaleej Times
UAE authority warns against dealing with unlicensed firm Excellence Fx
UAE's financial regulatory agency issued an alert, warning consumers of an unlicensed company. Excellence Fx Limited Company and its website are not licensed by the Securities and Commodities Authority (SCA), it said in a post. The company does not have a licence to practice any financial activity or service subject to the authority's regulation and licensing. Further, the authority also said it is not responsible for any dealings that consumers undertake with the company. Earlier this year, SCA took regulatory action against companies, imposing fines of Dh1.15 million for non-compliance with provisions combating money laundering and terrorist financing, and violations of regulations. Waleed Saeed Al Awadhi, CEO of SCA, earlier stressed that the authority will continue its commitment to enhancing transparency and protecting investors, while continuing its regulatory efforts to ensure the highest standards of integrity in the financial sector.
