SCA calls finfluencers to obtain official licence

As part of its strategic efforts to regulate digital financial markets and enhance investor protection, the Securities and Commodities Authority (SCA) has called on all financial influencers (Finfluencers) operating across digital platforms and media channels to proactively register and obtain official authorized “Finfluencer” status.

This designation requires full compliance with regulatory standards to ensure content transparency and safeguard the rights of market participants.

Waleed Saeed Al Awadhi, CEO of the SCA, stated, “In today’s rapidly evolving digital financial ecosystem, regulating Finfluencers activity has become imperative. Finfluencers play a pivotal role in shaping investor decisions. Official authorisation by the SCA underscores their commitment to professional standards and reinforces public trust in the integrity of financial content.”

The SCA offers eligible individuals the opportunity to apply for authorised Finfluencer status, allowing them to share investment analyses and offer recommendations related to approved financial instruments or entities through digital or traditional media, as long as they remain in strict compliance with the SCA’s standards. To further encourage adherence, the SCA is granting a three-year waiver on registration and renewal fees, along with access to legal advisory services.

In parallel, the SCA urges the public to verify a Finfluencer’s authorisation status before engaging with their content or acting on their recommendations. The SCA also encourages prompt reporting of any unauthorised activities via its official website or call centre, stressing that interactions with unauthorised individuals or entities may pose significant financial risks to investors.

The SCA reiterates that public awareness and active engagement are the first line of defence against unreliable or unregulated financial content. To apply to become an Authorised Finfluencer recognised by the SCA, or to report non-compliant practices, please visit the SCA website or call the toll-free number 800722823.

This initiative underpins the SCA’s broader strategic vision to foster a transparent and trusted investment environment, reinforcing the UAE’s global position as a leading financial hub committed to adopting best-in-class regulatory practices in the digital marketplace.