SCA announces updates to its Qualifications-Led Licensing Regime to keep up with global industry developments and achieve local economic objectives
Keen to improve the efficiency of the securities sector; to keep up with the latest global industry developments; and to deliver the local economic objectives, the Securities and Commodities Authority (SCA) addressed a circular to all licensed individuals and companies operating in the UAE, explaining that it made updates to the Qualifications-Led Licensing Regime requirements.
It said that the updates included incorporating new professional exams and making some changes to existing ones that have been already approved.
SCA indicated that the updated requirements apply to all unlicensed target groups and other groups that have not passed any of the already existing exams before issuing the circular. It further explained that exam fees have been subject to the value-added tax (VAT) since the first of January. SCA added that entrants can book their exams online by logging onto its website www.sca.gov.ae.
It urged those who wish to sit for the exams to review the updated diagram found on its website and to contact its training centre (SCATrainingCentre@sca.ae) should they have any questions.
The new updates were made following several prior arrangements, including signing an annex to an agreement previously entered into with the UK-based Chartered Institute for Securities and Investment (CISI), ensuring the preparedness of the training centre to administer the new exams, coordinating with the CISI concerning all relevant matters, ensuring that online payment is available for exam fees (including VAT payment option), and designing the required exams diagram.
Qualifications-Led Licensing Regime requirements.