The UAE Securities and Commodities Authority (SCA) referred a licensed company to the Public Prosecution and imposed an AED 5 million fine after finding it misrepresented its licensing status and misled clients. The firm was found to have violated anti-money-laundering regulations and other rules, including by failing to obtain required approvals for its investment plans. The SCA urged investors to verify the licensing status of service providers and report any suspicious activity.
UAE Securities & Commodities Authority 2025-07-25
UAE Securities and Commodities Authority refers licensed company to Public Prosecution and fines it AED 5 million for misleading clients
The UAE Securities and Commodities Authority fined a licensed company AED 5 million and referred it to the Public Prosecution for misrepresenting its licensing status and misleading clients. The firm violated anti-money-laundering regulations and failed to obtain necessary approvals for its investment plans. The SCA advised investors to verify the licensing status of service providers and report suspicious activities.