Influencers who produce content about trading, investing, or financial advice in the United Arab Emirates must now apply for a license. The first "influencer" license in the area was just introduced, according to a recent announcement by the Securities and Commodities Authority (SCA).
In the expanding realm of financial content on social and digital platforms, Finfluencer Licence seeks to increase transparency, trust, and regulation.
Additionally, this new seeks initiative will provide explicit guidelines for those who provide financial promotions, suggestions, and investment research on digital media. It is a component of a larger effort to safeguard investors and ensure that financial data supplied online is truthful, accountable, and comply with the law.
For the next three years, the SCA has waived the registration, renewal, and legal consulting fees associated with this service to facilitate the process for content creators. This would encourage financial innovation within a robust legal and regulatory framework while reducing government red tape.
