UAE Unveils “Finfluencer” Licence To Regulate Digital Financial Content

UAE's Securities and Commodities Authority (SCA) has introduced “Finfluencer” license, designed to formalise and oversee digital financial content. The initiative, first of its kind in the region, aims to launch a clear governance framework for individuals providing investment analysis and financial promotions across digital platforms.

The licence is for individuals providing financial or investment recommendations related to regulated products or entities within the UAE through digital or traditional media. Eligible applicants are required to register with the SCA and comply with all applicable regulatory obligations.

According to SCA, 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 performance," added the authority in an official statement.