The UAE Securities and Commodities Authority (SCA) has issued a new warning after discovering an unlicensed entity using the name Gulf Higher Authority for Financial Conduct, operating through www.financialgcc.com and falsely claiming to be a financial regulator.
In its notice, the SCA stated that the entity is not licensed, has no supervisory authority, and is unlawfully suggesting that it exercises control over financial activities in the UAE. Investors are urged to avoid dealing with this entity and to verify the legitimacy of any firm before transferring funds, signing agreements, or sharing personal information.
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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The latest warning follows a similar notice issued on November 19, when the regulator flagged another unidentified operation impersonating Emirates Investment Bank through a cloned website and fabricated documents.
