UAE Capital Market Authority Reports 43% Surge in Licensed Firms and Record Regulatory Growth

The UAE Capital Market Authority (CMA) has reported a 43% year-on-year surge in licensed companies during the first nine months of 2026, alongside a significant escalation in enforcement actions. For fintech professionals, this signals a maturing market where rapid ecosystem expansion is being met with increasingly rigorous regulatory oversight and investor protection measures.

What was announced

The UAE’s capital markets demonstrated significant growth and resilience through the third quarter of 2026. The combined market capitalisation of the Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) reached AED 3.7 trillion by the end of September, supported by a total traded value of AED 408 billion. Foreign investors were a primary driver of this activity, accounting for 49% of the total traded value. The period also saw robust capital-raising activity, with bond and sukuk issuances totalling AED 576 billion, while capital increases contributed a further AED 3.4 billion.

A notable shift occurred in the investment funds sector, where the number of local funds grew by 94% year-on-year to reach 97. Assets under management (AUM) in these funds rose by 30% to AED 28.6 billion. This expansion was mirrored in the professional landscape, with the number of accredited professionals increasing by 64%.

The CMA also intensified its regulatory enforcement. Financial penalties rose by 246% in volume, totaling AED 12.9 million. Most significantly, the Authority facilitated the refund of approximately AED 1.2 billion to clients, a massive increase from the AED 8 million refunded during the same period in 2025. On the digital front, the Authority advanced its Virtual Assets Regulatory Framework, with 102 virtual assets registered for admission to trading during the third quarter of 2026 alone. Additionally, the regulator expanded its oversight of digital communications, bringing the total number of registered financial influencers to 198.

"At CMA, we remain committed to translating the vision and directives of our wise leadership into tangible regulatory initiatives that support the UAE’s ambitions to build a diversified and competitive economy, while strengthening the role of capital markets in driving sustainable economic growth. Our focus is on developing a more proactive and efficient supervisory approach, strengthening investor protection and market transparency, and embracing advanced technologies to support responsible innovation and reinforce investor confidence."

H.E. Waleed Saeed Al Awadhi, Chief Executive Officer of the Capital Market Authority

The companies involved

The UAE Capital Market Authority (CMA) serves as the primary regulatory body overseeing the securities and commodities markets within the United Arab Emirates. Its mandate includes the supervision of the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM), ensuring market integrity and the protection of investor rights. The Authority has recently operated under the framework of Federal Decree-Laws No. 32 and 33 of 2025, which significantly expanded its supervisory powers and regulatory oversight capabilities starting in January 2026.

Under the leadership of Chief Executive Officer H.E. Waleed Saeed Al Awadhi, the CMA has taken a prominent role in international regulatory circles. Al Awadhi currently serves as the Chair of the IOSCO Africa and Middle East Regional Committee for the 2026–2028 term, a position that allows the UAE to influence global regulatory standards. The Authority has also been active in formalising international ties, recently signing memoranda of understanding with regulatory counterparts in Hong Kong, Kazakhstan, and Mauritius to enhance cross-border cooperation and market stability.

What FF News has reported before

FF News has closely followed the UAE Capital Market Authority’s efforts to modernise the region's financial infrastructure. In October 2026, we reported that the UAE Capital Market Authority Launches AI-Ready Regulatory Access Enhancements, a move designed to streamline how firms interact with complex legal frameworks. This digital push aligns with the broader regional momentum seen at major industry gatherings. Earlier in the year, our coverage of Money20/20 Middle East Unveils 2026 Riyadh Agenda Featuring Visa, BlackRock, and Tabby highlighted the increasing intersection of global finance and Middle Eastern regulation. We also provided extensive updates on the event's return to the region in August and September, noting the UAE's role in shaping the future of finance alongside its neighbours.

What this means

The staggering jump in client refunds—from AED 8 million to AED 1.2 billion—suggests the UAE is moving away from a light-touch regulatory era. This level of capital restitution indicates that the CMA is now willing and able to execute massive enforcement actions that have a direct impact on firm balance sheets. For the fintech sector, the rapid registration of 102 virtual assets shows that the UAE is successfully institutionalising the crypto market rather than merely permitting it. However, the 767% increase in regulatory warnings serves as a clear signal: the window for "move fast and break things" is closing. Firms operating in the UAE must now prioritise high-grade compliance technology to survive this new, high-velocity enforcement environment.