UAE introduces first ‘finfluencer’ license to regulate digital financial advice

The license is aimed at anyone offering investment recommendations or financial insights related to regulated products or services within the UAE, whether through social media, blogs, podcasts, seminars, or other public forums. Applicants must register with the SCA and adhere to a set of regulatory standards designed to ensure transparency and protect investors.

Formal oversight of digital finance voices

By introducing this licensing framework, the SCA seeks to formalize what has until now been an informal and largely unregulated sector. The initiative addresses growing concerns about misinformation and the influence of unqualified figures on investor behavior, particularly in the context of rising retail participation in financial markets.

Temporary fee waiver to encourage compliance

To ease adoption, the SCA has waived registration, renewal, and legal consultation fees associated with the license for a three-year period. This incentive is part of a broader package of measures aimed at reducing bureaucratic barriers while fostering innovation within a well-defined legal framework.

A strategic shift toward market integrity

SCA CEO Waleed Saeed Al Awadhi described the initiative as part of a wider strategy to redefine regulatory roles in the digital economy. The license is expected to enhance investor trust and reinforce the UAE’s position as a regional financial hub by ensuring that digital financial content meets rigorous standards for accuracy and accountability.