Capital Market Authority (CMA)
Guiding you through UAE CMA Authorisation
What is the Capital Market Authority (CMA)?
The United Arab Emirates (“UAE”) Capital Market Authority (“CMA” or sometimes referred to as “ECMA”) is tasked with monitoring and regulating the UAE’s financial markets including the Dubai Financial Market (“DFM”), the Abu Dhabi Securities Exchange (“ADX”) and the Dubai Gold & Commodities Exchange (“DGCX”). Furthermore, CMA regulates all securities-related activity within the UAE excluding activity within the Dubai International Financial Centre (“DIFC”) and the Abu Dhabi Global Market (“ADGM”).
What type of CMA licence is required?
The type of CMA licence that you will require depends on the activities you wish to undertake.
Who needs CMA authorisation?
Any person or entity that wishes to carry out business in mainland UAE can obtain authorisation from the CMA. This includes investment companies, brokerage firms, and other financial institutions.
What are the requirements for obtaining an CMA License?
The specific requirements for obtaining an CMA license vary depending on the type of activity and the nature of the entity. Generally, however, applicants must demonstrate that they have sufficient financial resources, a good reputation, a business plan, necessary experience and qualifications, as well as the ability to comply with relevant regulations.
How long does it take to obtain CMA authorisation?
The CMA states that it can approximately 20 business days to review and issue a decision on an application. However, this timeframe can vary depending on the complexity of the application.
How can Waystone Compliance Solutions support you with your CMA obligations?
With various government bodies involved, the process can often be a challenge, however, by utilising our reliable contacts and resources across the UAE regulatory landscape, we can project manage your CMA licensing application effectively, leaving you to manage your day-to-day business.
CMA regulations are constantly evolving, and we can provide you with ongoing support, an interpretation of the regulations, and advice on how to best update your systems and controls.