Cabinet Resolution No. 11 of 2000 · UAE Federal
Cabinet regulations requiring every securities and commodities market to be licensed by the Authority, setting the licensing conditions (local public establishment, electronic link to other markets), the documents and declarations required of market directors and managers, and supervision of licensed markets.
Cabinet Resolution No. 11 of 2000 sets the licensing and supervision regime for securities and commodities markets in the UAE. Article 2 prohibits any market from trading securities and commodities in the State without a licence from the Authority, now the Capital Market Authority (CMA). The resolution was issued on 3 July 2000 under Federal Law No. 4 of 2000 and took effect on publication in the Official Gazette (Article 20). That law was repealed from 1 January 2026, but Article 27(4) of Federal Decree-Law No. 32 of 2025 keeps earlier Cabinet resolutions in force so far as they do not conflict with the new legislation, so the resolution remains part of the rulebook until replaced. Cabinet Resolution No. 15 of 2004 inserted Article 19 bis on late payment of amounts due to the Authority.
Article 3 sets three licensing conditions: the market must be a local public establishment, occupy premises equipped to trade electronically, and be electronically linked to the other UAE markets in a common trading system. Article 4 lists the application documents, including the local establishment resolution, the internal regulations and the electronic trading, deposit, clearing and settlement system. Each market director must confirm he is not a director of a public joint stock company or a partner in a brokerage, and directors and the director general must declare their own, their spouse's and minor children's securities and broker holdings and report any change within one week.
The Authority examines an application within 15 days, the Board decides within 30 days of a complete file and the applicant is notified within one week; a rejection must give reasons (Articles 6 to 9). Articles 10 to 14 give the Authority inspection and investigation powers over markets and brokers, including entering offices, inspecting records and ordering a party under investigation not to dispose of securities or withdraw deposited funds. A market must file audited annual accounts within one month of its year-end (Article 15). The Board may halt trading in a market, a company's shares or any security in exceptional circumstances (Article 18). Article 19 bis sets escalating sanctions where a market fails to pay amounts due: warning, a 30-day notice, delay penalties of 1%, 2% and then 5% a month, and temporary suspension.
Securities and commodities markets licensed in the UAE (such as the Abu Dhabi Securities Exchange and Dubai Financial Market), their board members, director general and deputy, and brokers subject to the Authority's inspections and investigations.
English official text in 21 articles. Open the full text or jump to a provision:
| Article 2 | No market may trade securities and commodities in the State unless licensed by the Authority. |
| Article 3 | A market must be a local public establishment, have premises equipped for electronic trading, and be electronically linked with the other UAE markets in a common trading system. |
| Article 4 | Lists the licence application documents, including directors' declarations of securities held by them, their spouses and minor children, and undertakings to report changes within one week. |
| Articles 6–9 | The Authority reviews an application within 15 days, the Board decides within 30 days of a complete file, notice follows within one week, and a rejection must state reasons. |
| Articles 10–14 | Give the Authority powers to inspect and investigate markets and brokers, enter offices, inspect records and freeze securities and funds of a party under investigation; investigation papers are confidential. |
| Article 15 | A market must present its audited balance sheet, profit and loss account and annual financial statements within one month of the end of its financial year. |
| Article 17 | The Authority may hear appeals against market board decisions issuing warnings or fines of up to AED 100,000. |
| Article 18 | The Board may temporarily halt trading in a market, a company's shares or any securities in exceptional circumstances threatening orderly functioning. |
| Article 19 bis | Where a market fails to pay amounts due to the Authority: warning, 30-day notice to rectify, delay penalties of 1%, 2% and then 5% per month, and temporary suspension. |
Article 19 bis, inserted in 2004, sanctions a market that fails to pay amounts due to the Authority: a warning, a notice to rectify within 30 days, delay penalties of 1% of the amount due for the first month, 2% for the second and 5% for each later month (a part-month counts as a full month), and temporary suspension of the market. Market boards may themselves issue warnings or fines of up to AED 100,000, appealable to the Authority (Article 17).
This resolution regulates the exchanges themselves, not our clients, so we use it as background. When a client asks how ADX or DFM are supervised, why trading in a stock can be halted, or who to complain to about a market decision, these articles give the answer. Polaris is not licensed by the CMA and does not operate or advise on running a market. For clients holding or acquiring listed UAE shares we explain the supervisory framework, coordinate with licensed brokers and advisers, and keep the holding company's records, UBO and tax filings in order.
| Amended by | Cabinet Resolution No. 15 of 2004 |
| Cites | Former SCA Law |
| Cited by | Federal Virtual Assets Regulation · Former Crypto Assets Activities Regulation |
“Cites” and “Cited by” are built automatically from references in the full texts held in this library; they cover only instruments in the library.
Amendment 15 of 2004 to Market Licensing and Supervision Regulations
Amending instrument that changes the Market Licensing and Supervision Regulations (Cabinet Resolution No. 11 of 2000). The CMA has consolidated its changes into the curre…
Former SCA Law
Former federal law establishing the Emirates Securities and Commodities Authority and Market and regulating licensing, listing, trading and disclosure in the securities m…
Capital Market Authority Law
Constitutes the Capital Market Authority as legal successor to the Securities and Commodities Authority, sets its objectives, powers, board and executive structure, keeps…
Capital Markets Law
Regulates the onshore capital market from 1 January 2026: financial activities subject to CMA licensing, capital market institutions, offering and listing of securities, …
SCA and Markets Competencies Decree-Law
Transfers operational and executive powers under the Commercial Companies Law and the former SCA law to the licensed securities and commodities markets, while the Authori…
Former Listing of Securities Regulations
Cabinet regulations on the listing of securities and commodities on licensed markets, now listed by the CMA among superseded regulations.
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