The Securities and Commodities Authority (SCA) in the UAE issued a warning on Thursday, urging investors to avoid dealing with an unlicensed entity called ‘Better Experience’.
The advisory is part of the regulator’s ongoing efforts to ensure market integrity and protect investors under Federal Law No. (4) of 2000 governing the SCA and UAE financial markets and related frameworks.
According to the SCA, it has observed that some entities advertise and promote financial services or activities under its regulatory scope without obtaining the necessary licenses, approvals, or authorisations.
In its latest notice, the authority specifically cautioned investors against engaging with “Better Experience,” stating that the company is not licensed to conduct regulated financial activities or provide related services within the UAE.
“The CMA assumes no liability for any transactions or dealings involving this entity. Investors are strongly urged to verify the legitimacy and licensing status of any entity before entering into agreements or transferring funds to safeguard against potential fraud,” the authority said in a statement.
The warning aligns with broader investor protection efforts in the region, including similar advisories by the Capital Market Authority (CMA), which emphasised it assumes no responsibility for transactions with unlicensed firms.
Regulators stressed that dealing with such entities exposes investors to significant financial risks, including fraud and loss of funds.
Investor guidance
Authorities strongly urged investors to:
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Verify the licensing status of any financial service provider through official regulatory channels
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Avoid transferring funds to entities that are not clearly authorised
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Exercise caution when encountering online advertisements or unsolicited investment offers
The SCA reiterated its commitment to monitoring market activities and taking necessary measures against violations, while continuing to raise awareness to safeguard investor interests.
Source: Khaleej Times