UAE 'finfluencers' rush to get permits

REGULATOR URGES INVESTORS TO VERIFY ADVICES THEY GET ONLINE, REPORT UNAUTHORISED ACTIVITIES

- BY MANOJ NAIR

Don't wait social media influencers in the UAE who discuss finance and investment matters must register with the regulator as soon as possible.

There's no time to waste when it comes to protecting young social media audiences from taking on overly risky investments just because an influencer thought it was a good idea. Even investing based on half-baked advice from social media platforms can quickly turn sour.

Report to SCA

The UAE's Securities and Commodities Authority (SCA) is stepping up to protect these investors. Any unauthorised financial activities must be reported to the SCA through its website or call centre.