Federal Decree by Law No. (32) of 2025 Regarding the Capital Market Authority

Purpose and legislative background

The law reconstitutes federal capital-market regulation around a new Capital Market Authority and provides the institutional platform for the substantive 2025 Capital Market Regulation Law.

No later amendment was identified in the official source reviewed on 31 August 2026.

Scope and who it applies to

• The Capital Market Authority, its Board, CEO, management and employees.
• Capital-market entities and persons supervised by the Authority.
• Government and regulatory entities interacting with the Authority.
• Persons relying on former SCA legislation, decisions, rights, obligations or contracts affected by legal succession.

Key definitions

• Key terms include the Authority, Board, Chairman, CEO and the Capital Market Regulation Law. Article 1 should be consulted for the precise statutory wording.

Main rights and obligations

• The Authority must exercise its functions within the law and related legislation.
• Board members, management and staff must comply with confidentiality and conflict-of-interest rules.
• Regulated persons must respond to lawful supervisory and information requirements within the Authority's competence.

Procedures and compliance

• Determine whether the activity falls within the Authority's statutory perimeter.
• Use current CMA rules and transitional SCA resolutions that remain legally effective.
• For licences, approvals or supervisory matters, follow the procedural rules issued under the companion capital-market legislation.

Deadlines and time limits

• Effective date: 1 January 2026.
• Any specific filing or licensing deadline depends on the companion law and Authority regulations.

Enforcement, violations and penalties

['This decree-law primarily establishes and governs the regulator; enforcement against market participants also depends on Federal Decree by Law No. (33) of 2025 and Authority regulations.']

Source distinction: A penalty or enforcement measure stated as part of the legislation must be checked against the enacted article. Administrative details may be supplied by Cabinet, ministry, regulator or judicial-authority instruments. The practical commentary here is not a substitute for those instruments.

Practical scenarios

1. A contract referring to the former SCA should be reviewed in light of the statutory succession to the CMA.
2. A regulated firm updating compliance manuals should replace outdated regulator references and verify current CMA resolutions.
3. A financial group with DIFC or ADGM activity should analyse the federal/free-zone boundary before assuming CMA jurisdiction.

Amendments and related legislation

No later amendment was identified in the official source reviewed on 31 August 2026.

Related legislation and official guidance listed in the manifest and research notes should be checked together with the principal law, especially where the principal law delegates detail to an executive regulation, Cabinet resolution, regulator rule or judicial guide.

What businesses and individuals should check

• Use 'Capital Market Authority' rather than the former 'Securities and Commodities Authority' for the post-1 January 2026 federal framework.
• Read the Authority law together with Federal Decree by Law No. (33) of 2025.
• Existing resolutions must be tested against the transition/continuity provisions before being treated as operative.
• Financial free-zone jurisdiction must be analysed separately where relevant.
• Confirm that the version of the law and implementing instruments being used is current on the date of the transaction or dispute.
• Keep a copy or citation of the official source used for any compliance decision.
• Do not rely on the cover artwork as evidence of official publication or government endorsement.

When legal advice may be useful

Professional interpretation may be useful where the applicable legal regime is disputed, a licence or regulatory perimeter is unclear, a transitional rule affects an existing right or contract, a penalty or enforcement action is possible, or facts span multiple Emirates, free zones or foreign jurisdictions.

Information status

This explanation was researched and checked on 2026-08-31. It provides general legal information and should be re-verified against the official source for any later amendment or implementing decision.