SCA (Securities & Commodities Authority)

The SCA is the federal regulator of onshore capital markets in the UAE. It supervises the Dubai Financial Market and Abu Dhabi Securities Exchange, licenses brokers, investment managers, advisers and promoters operating onshore, approves public offerings and fund promotions, and enforces market conduct rules against insider trading and manipulation. Crucially for foreign firms, promoting securities or funds to onshore UAE investors generally requires SCA licensing or registration — a trap for offshore managers marketing into the country. The SCA also shares crypto-asset oversight with other regulators at the federal level. Retail investors meet the SCA through its investor protection and complaint channels; financial institutions meet it in licensing and enforcement. Lawyers advise on SCA approvals for offerings, marketing restrictions, and defence in market-abuse investigations.