UAE Authority Warns Of Unlicensed Firm Posing As Trading Company

The UAE's security authority warned investors of an unlicensed company on Wednesday, December 10.

The firm, Golden Brokers Limited, runs a representative office in Dubai where it carries out all its operations without a licence from the Securities and Commodities Authority (SCA).

The investing public has been informed that the company is not authorised to engage in regulated financial activities or offer-related financial services.

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The authority said it assumed no responsibility for any transactions or dealings carried out with the company.

Recently, the authority warned of Global Capital Securities Trading, which was posing to be a trading company without a licence.

Meanwhile, on December 3, the authority warned investors of an unlicensed entity using the name Gulf Higher Authority for Financial Conduct was found operating through and falsely claiming to be a financial regulator.

The SCA is the federal regulator responsible for licensing, supervising and enforcing conduct across the UAE's financial markets, including investment firms, brokers, and related service providers. It routinely publishes alerts to help the public identify unlicensed operators and cloned websites.

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