New SCA Licensing Regime
In 2020, the Securities and Commodities Authority (SCA), which
is the UAE's financial and capital markets regular, published a
draft new rulebook on financial activities regulated by the SCA.
The SCA's consultation on the draft new rulebook was a very
positive development welcomed by businesses and professionals
alike. It signaled a clear departure from the SCA's then
licensing framework and offered the public an opportunity to
comment and provide their opinion on the SCA's proposed
regulatory framework.
In May 2021, the SCA issued the long awaited rulebook (for which
the consultation was sought from the public last year) on the
financial activities and mechanisms of status regularisations (the
"New Rulebook") pursuant to SCA Decision
No.13/RM/2021.
