CMA Decision No. 45/CEO of 2016 · UAE Federal
Administrative resolution regulating complaints relating to financial market transactions: who may file, form and registration of complaints, handling by the Authority and the applicable procedure.
Administrative Decision No. 45/R.T of 2016 sets how the Authority (now the Capital Market Authority, CMA) handles complaints about transactions on UAE securities and commodities markets involving entities it supervises: brokers, custodians, fund managers and other licensed firms. Complaints are handled by the Enforcement and Follow-up Department, and the Chief Executive Officer decides them. It was issued on 23 June 2016 and took effect on issue (Article 27). It has been amended by Decisions No. 72/R.T of 2018 (allowing English filings), No. 17/CEO of 2021 and No. 41/CEO of 2025 (both on the decision timetable in Article 24).
The process starts with the firm. Except in urgent cases, a complaint against a corporate respondent must first be made to that firm, and only if no solution is reached within 5 business days may it go to the Authority with proof of the initial complaint (Article 8). Article 9 bars complaints already before a court or decided, repeat complaints, employment disputes between the parties, and complaints made more than one year after the last disputed trade or after the complainant learned of the incident. Article 12 lists the contents: identities and contact details, a chronological account, clear requests, supporting documents and any prior proceedings. Arabic is the official language (Article 5); since 2018 a complaint may be filed in English, with a certified Arabic translation if requested. Agents need an attested power of attorney (Article 11).
The respondent must reply within 10 business days, extendable on request (Article 15). The department may inspect the supervised entity's records, take statements, summon witnesses and seek help from other authorities (Articles 18 to 20). Article 23 excludes compensation claims, which remain with the courts. Under Article 24, as amended, the department reports to the Chief Executive Officer within 30 days of receipt, extendable for similar periods, and the Chief Executive Officer issues the decision. Decisions are implemented under the market's technical supervision and the Authority's control, subject to the grievance route (Article 25). Facts revealing a crime or regulatory violation may be pursued separately (Article 22).
Status: in force as amended.
Investors and traders on UAE securities and commodities markets with disputes over transactions involving CMA-supervised entities, those entities as respondents, their staff, agents and legal representatives, and the markets that implement complaint decisions.
English official text in 27 articles. Open the full text or jump to a provision:
| Article 3 | The Authority, through its Enforcement and Follow-up Department, hears complaints on market transactions involving supervised entities, but not against persons whose licences were revoked once all guarantees are recovered. |
| Article 5 | Arabic is the official language of complaint proceedings; non-Arabic speakers need an interpreter; foreign-language documents need certified Arabic translations on request. |
| Article 8 | Except in urgent cases, the complainant must first complain to a corporate respondent and may go to the Authority only if no solution is reached within 5 business days. |
| Article 9 | Complaints are inadmissible if before a court or decided, repeated, employment-related, missing required statements, made without an initial complaint, or filed more than one year after the last disputed trade or knowledge of the incident. |
| Article 12 | Required contents: identities and contact details with ID, the initial complaint, a chronological description, clear requests, supporting documents, prior legal actions and signature; since 2018 English filings are accepted. |
| Article 15 | The respondent must answer within 10 business days; extensions may be granted on a reasoned request, failing which the complaint is decided on the available documents. |
| Article 20 | The department may inspect supervised entities, audit their records, take signed statements from staff, request documents, summon witnesses and hear the alleged violator. |
| Article 23 | Material and moral compensation claims are outside the Authority's jurisdiction; the aggrieved party may pursue them in court. |
| Article 24 | As amended, the department submits its memorandum and recommendation to the Chief Executive Officer within 30 days of receipt, extendable; the Chief Executive Officer issues the decision. |
| Article 25 | Complaint decisions are implemented under the market's technical supervision and the Authority's control, with the market and losing party notifying completion, subject to the grievance regulation. |
Investor clients usually reach us after a dispute with a broker over an unauthorised trade, a margin call or a delayed transfer. We point them to the order of steps: a written complaint to the firm first, five business days, then the CMA's electronic channel, and always inside the one-year window. Where money is claimed as damages, Article 23 sends that to court, so we tell clients early that a CMA decision may not put cash back in their account. We are not licensed by the CMA and do not represent parties as advocates; we assemble the trade records, account agreements and correspondence in chronological order, arrange certified Arabic translations and attested powers of attorney, and coordinate with the client's lawyer.
| Amended by | CMA Decision No. 72/CEO of 2018; CMA Decision No. 17/CEO of 2021; CMA Decision No. 41/CEO of 2025 |
| Cites | Former SCA Law |
“Cites” and “Cited by” are built automatically from references in the full texts held in this library; they cover only instruments in the library.
Grievances Regulation
Administrative resolution regulating grievances against resolutions relating to capital market transactions, including the grievance committee and its procedure.
Amendment 72/CEO of 2018 to Complaints Regulation
Amending instrument that changes the Complaints Regulation (CMA Decision No. 45/CEO of 2016). The CMA has consolidated its changes into the current text of the amended re…
Amendment 17/CEO of 2021 to Complaints Regulation
Amending instrument that changes the Complaints Regulation (CMA Decision No. 45/CEO of 2016). The CMA has consolidated its changes into the current text of the amended re…
Amendment 41/CEO of 2025 to Complaints Regulation
Amending instrument that changes the Complaints Regulation (CMA Decision No. 45/CEO of 2016). The CMA has consolidated its changes into the current text of the amended re…
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…
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, …
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