The Dubai International Financial Centre. ARCHIVE

The Capital Market Authority (CMA) and the Securities and Commodities Authority (SCA) have issued fresh warnings against several unlicensed financial firms, trading platforms, and individuals operating in the UAE without regulatory approval. In an advisory issued on May 8, the Capital Market Authority warned investors against dealing with Wealth World Capital Investment LLC, which operates under the name Arbitrage Prim. According to the authority, the company is active in the UAE but is not licensed to provide financial services or conduct regulated investment activities in the country. The regulator stressed that it bears no responsibility for any financial dealings involving unlicensed entities or individuals. The warning follows a similar advisory issued on February 26 against Ethr.trading, which authorities said was operating without official authorisation to conduct regulated financial activities in the UAE. Separately, the Securities and Commodities Authority issued a warning on April 16 against Better Experience, stating that the company is not licensed to provide regulated financial services or activities within the UAE. On March 27, the SCA also flagged Hypertech, represented by Sam Lee, saying the company was not authorised to offer financial services in the UAE. The authority urged investors not to engage with the company or its representatives and to verify the licensing status of financial entities before transferring funds or entering into agreements. The SCA additionally warned the public against interacting with Hashim Al Fahmawi through the social media platform X under the account @hashim_fahmawi. According to the authority, Al Fahmawi does not possess the required authorisation to conduct regulated financial activities in the UAE. Regulators said they continue to monitor entities advertising financial products and investment services without obtaining the necessary licences, approvals or authorisations. Authorities warned that dealing with unlicensed firms may expose investors to fraud, financial losses, or misuse of personal and financial information. The CMA and SCA urged investors to verify the regulatory status of companies and individuals before making investments or sharing sensitive financial details. ICA/Expat Media
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