Can I file a case against a finance advisor selling fraudulent investments?

Hello,

Dear questioner, these matters fall under the name of fraud crimes. For example, these crimes are punishable by the law of the United Arab Emirates with imprisonment or a fine.

The victim can request appropriate compensation as a result of the damage he suffered as a result of his exposure to fraud from securities advisors.

We, as lawyers, can also sue before the courts in such cases. Suits For further clarification, please share your WhatsApp number

Dear Inquirer,

We are pleased to serve you and address your inquiries.

With regard to financial institutions licensed in the country, a complaint must be submitted to the Central Bank

If anything else is required, don’t hesitate to contact us via email or call our offices in Dubai or Sharjah.

Jasim Al Haddad Law Firm Legal Counsel and Consultations

Hi,

It is highly illegal to perform licensed activities without the concerned license in the United Arab Emirates.

As you have heard, law firms themselves will not be able to sue other finance advisors for 'fraud' and 'default'.

Since they are not the concerned party, they are unable to bring proceedings. However, if you wish to pursue litigation against said finance advisors, we should be able to assist you and bring it on your behalf.

We offer fully comprehensive services, where we undertake everything from sending a legal notice, case filings, and execution to receiving judgment. Should you require these services, do not hesitate to contact us on WhatsApp.

Thank you for reaching out with your question regarding the safeguards in UAE law against fraudulent financial advisors and the regulatory requirements they must meet.

In the UAE, financial advisors are required to obtain proper licensing to operate legally. This usually involves approval from the Securities and Commodities Authority (SCA) or the Central Bank of the UAE, depending on the nature of their services.

Operating without these licenses is illegal, and any financial advisory activity without proper authorization can be subject to legal action.

Contrary to what you might have heard, law firms do indeed have the authority to file cases against financial advisors who operate without a legal license.

If a financial advisor has engaged in fraudulent activities or has defaulted on funds, you have the right to pursue legal action to seek redress.

I can provide you with detailed guidance and support to navigate this complex issue. By appointing me as your attorney, I can help you understand your legal options and represent you in any necessary legal proceedings to protect your interests.

To discuss your case further, please feel free to reach out to me via WhatsApp or phone. Alternatively, you can email me.

I look forward to assisting you.

Dear Questioner,

Please be informed that financial advisors in the UAE must be licensed by the SCA and cannot act as financial advisors without prior approval from the SCA.

As for law firms and their authority to file cases against financial advisors, we are not aware of any laws that prohibit law firms from suing any financial advisors, or any other kind of advisors.

If you have been a victim of fraudulent investment advice provided by your financial advisor, and you have well-documented proof of the above-mentioned, then you can sue the financial advisor by filing lawsuit in the court of jurisdiction in the regular standard procedure followed with regard to all other commercial cases.

If this financial advisor was providing you with financial advice without the required license from the regulators, then this fact will only support your case and make the courts more lenient toward rendering a judgment in your favor.

For more information, please get in touch with us on WhatsApp.