CMA UAE Grade C

Main requirement

1. Business Plan: A detailed business plan that includes information on the operational, financial, and marketing strategies of the forex brokerage. This should cover the target market, products and services offered, projected financial statements, and risk management strategies.
2. Company Incorporation Documents: Copies of the company's incorporation documents, including the certificate of incorporation, memorandum and articles of association, and commercial license, proving the legal existence of the company in the UAE.
3. Board of Directors and Management Profiles: Detailed profiles of the company's board of directors and key management personnel, including their qualifications, experience, and suitability for their roles within the company.
4. Financial Statements: Audited financial statements for existing companies or financial projections for startups, demonstrating the financial viability of the business.
5. AML and CFT Policies: Comprehensive Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) policies and procedures that comply with the UAE's regulatory requirements.
6. Risk Management Policies: Documentation of the company's risk management framework, outlining how it will identify, monitor, and manage various types of risks associated with its operations.
7. Operational Policies and Procedures: Detailed descriptions of the operational policies and procedures, including client onboarding, transaction processing, compliance checks, and customer service.
8. IT Infrastructure and Security Measures: Information on the IT infrastructure, trading platforms, and security measures to protect client data and funds.
9. Client Agreement and Terms of Service
10. Separate License Per Activity — Under the new framework, firms must hold specific licences for each discrete regulated activity they perform, even where activities are related.
11.  License Category Declaration — Applicants must specify which Category they are applying for (Cat 1 through Cat 5), as capital requirements, permitted activities, and client-handling rules differ significantly per category.
12. Local Physical Presence — A physical office in the UAE is mandatory for all CMA license categories. Category 5 (introducing broker) firms cannot hold client assets or execute trades locally; they must redirect UAE clients to licensed offshore entities.
13. Cross-Border Activity Compliance — The CMA's oversight now extends to certain activities conducted outside the UAE where those activities have an impact on UAE markets, significantly increasing compliance expectations for firms with cross-border operations or international client bases.