The Securities and Commodities Authority (SCA) has taken a serious step in the direction of smarter monetary regulation with the launch of an up to date threat evaluation methodology introduced to licensed corporations at a big workshop in Abu Dhabi.
The authority mentioned the brand new mannequin aligns with worldwide finest observe and strengthens its capability to keep up market stability.
Greater than 587 representatives from over 215 corporations attended the workshop, signalling robust engagement from the sector because it adapts to new supervisory expectations and rising compliance requirements.
SCA launches up to date threat framework
SCA representatives outlined the improved annual threat evaluation framework, which can information oversight efforts within the yr forward. The methodology identifies precedence threat areas, together with cash laundering and terrorism financing, solvency and monetary dangers, market conduct and investor safety, governance and operational dangers, and cybersecurity and technology-related threats.
Officers additionally launched a brand new digital system for receiving company submissions. Corporations have been proven full digital types and add required info securely. The authority mentioned the shift to digital supervision is not going to solely streamline reporting but in addition enhance its capability to anticipate dangers, act proactively and assist regulated entities in assembly compliance obligations.
The brand new methodology reduces administrative burdens by chopping redundant reporting and simplifying information assortment. The authority mentioned these enhancements will improve supervisory effectivity and create a extra supportive enterprise surroundings.
Waleed Saeed Al Awadhi, CEO of the SCA, mentioned: “This present day marks a turning level within the evolution of the UAE’s monetary sector. The launch of the up to date risk-assessment methodology is greater than an enhanced supervisory method; it’s a complete technique to construct a sustainable and resilient monetary sector able to navigating rising challenges. It helps strengthen risk-based oversight, foster compliance, and reinforce investor confidence within the UAE’s markets, finally enhancing the competitiveness and attractiveness of the nationwide financial system.”
The SCA mentioned the robust participation within the workshop displays the sector’s dedication to fashionable regulation and threat administration. It burdened the significance of continued collaboration with licensed corporations to make sure clean implementation of the brand new framework and to strengthen market resilience.
The authority mentioned the initiative reinforces its place as an progressive regulator centered on transparency, effectivity and stability throughout the UAE’s monetary markets.
