What statements are prohibited?
Article 37(1)(b) of the Federal Decree-Law No. 33 of 2025 (Regulation of the Capital Market) prohibits making any statements or disclosing any information that is false, misleading or in violation of the law, or spreading rumours that may affect the reputation of an issuer, the price of securities or any financial product, or investor decisions.
That covers press statements, social media posts, investor presentations and messages to groups.
What are the criminal penalties?
Article 71 punishes, with imprisonment of not less than one year and a fine of AED 50,000 to AED 250,000,000, or either: deliberately providing incorrect or misleading data in an issuer's documents, reports, prospectuses or advertisements, or modifying data after submitting it; deliberately broadcasting incorrect or misleading news, information or statements or misleading rumours likely to affect the integrity or stability of the market; and wilfully failing to disclose material information.
Signing or distributing documents with knowledge of their inaccuracy is covered too (Article 71(2)).
Does the offence need a result?
No. Article 71 applies whether the result occurred or was only intended.
That is why the content of a statement and the intention behind it are the main issues, not whether anyone lost money.
How should an issuer or promoter protect itself?
Keep an approval trail for every public statement, check prospectus data against records, disclose material information on time and do not forward unverified information.
If a complaint is made or the Authority asks for documents, preserve everything and take legal advice before responding. Concealing information requested by the Authority is itself an offence (Article 71(8)).
What should I do first?
Keep drafts, approvals and sources
For every statement.
Do not alter documents after filing
Article 71(2).
Disclose material information on time
Failure is an offence (Article 71(6)).
Respond to the regulator through counsel
Early advice matters.
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Frequently asked questions
Is spreading a rumour about a company a crime?
Deliberately spreading misleading rumours likely to affect the market is an offence (Article 71(3)). Article 37(1)(b) prohibits rumours affecting prices or investor decisions.
What if the prospectus was wrong by mistake?
The offence requires deliberate incorrect data or knowledge of inaccuracy when signing or distributing (Article 71(2)).
Is failing to disclose an offence?
Wilfully failing to disclose material information is (Article 71(6)).
Does anyone have to lose money?
No. The article applies whether or not the result occurred.
Related guides
Securities Fraud overview
The main points, the process and your first steps.
Read the overviewSecurities Fraud
The offences under the capital market law: unlicensed financial activity, false prospectus data, insider dealing and obstructing the regulator, with their penalties.
Read the guideMarket Manipulation
What trading behaviour the capital market law prohibits as manipulation, and the penalty.
Read the guideSources
Source: Federal Decree-Law No. 33 of 2025 (Regulation of the Capital Market), official English text on the UAE Legislation portal, checked 9 October 2026. The portal lists the law as active, in force from 1 January 2026. The Arabic text prevails over translations.
This page is general information, not legal advice.