CMA Decision No. 11/Chairman of 2022 · UAE Federal
Amending instrument recorded in the amendment notes of the Regulations Manual of the Financial Activities (Rulebook) (CMA Decision No. 13/Chairman of 2021). The CMA has consolidated its changes into that text and keeps this instrument in its archive of amending regulations.
Decision No. 11/Chairman of 2022 is an amendment to the Regulations Manual of the Financial Activities (the Rulebook, Decision No. 13/Chairman of 2021). The CMA lists it among the Rulebook's amending instruments, in force from 15 June 2022, but does not publish its text, and its listing gives no issue date.
The CMA's consolidated Rulebook records what it changed. In Section Two, Chapter 2 (Financial Activities and License Categories), it added a new Clause 21, Crowdfunding Platform Operator, to the list of financial activities in Article 1, and a new Sixth category, Crowdfunding Platform Operator, to the licence categories in Article 2. Both notes give 15 June 2022 as the date the change took effect. The decision therefore brought crowdfunding platform operation into the Rulebook's licensing framework, alongside the Cabinet's Crowdfunding Platform Operator Regulation issued earlier in 2022. Nothing more about its content can be stated from published sources.
Persons operating or seeking to operate a crowdfunding platform in the UAE under the Capital Market Authority's licensing framework, and firms licensed under the Regulations Manual of the Financial Activities.
Founders planning an investment or lending crowdfunding platform ask us which licence they need. Since this amendment the Rulebook lists crowdfunding platform operation as its own licence category. Polaris is not licensed by the CMA; we explain the licensing route, form and administer the operating company, coordinate with the client's licensed adviser and keep its corporate, UBO and AML records in order.
| Amends | CMA Decision No. 13/Chairman of 2021 |
“Cites” and “Cited by” are built automatically from references in the full texts held in this library; they cover only instruments in the library.
Regulations Manual of the Financial Activities (Rulebook)
Issues the Regulations Manual of the Financial Activities (the CMA rulebook): licensing categories and requirements for financial activities, approved jobs, business cond…
Crowdfunding Platform Operator Regulation
Cabinet resolution regulating crowdfunding in the State, including the free zones: entities barred from raising funds, licensing of platform operators, obligations toward…
Amendment 139 of 2023 to Crowdfunding Platform Operator Regulation
Amending instrument that changes the Crowdfunding Platform Operator Regulation (Cabinet Resolution No. 36 of 2022). The CMA has consolidated its changes into the current …
Amendment 9/Chairman of 2022 to Regulations Manual of the Financial Activities (Rulebook)
Amending instrument that changes the Regulations Manual of the Financial Activities (Rulebook) (CMA Decision No. 13/Chairman of 2021). The CMA has consolidated its change…
Amendment 18/Chairman of 2022 to Regulations Manual of the Financial Activities (Rulebook)
Amending instrument recorded in the amendment notes of the Regulations Manual of the Financial Activities (Rulebook) (CMA Decision No. 13/Chairman of 2021). The CMA has c…
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