Regulation is an important safeguard for clients.
Because AES works with expatriate and international professionals, it's regulated in several countries, each with its own rules and consumer protections.
So, how are AES entities regulated, which authorities oversee our activities, and how can you understand which rules apply to you?
Yes, AES is regulated in the UAE, operating through separate but affiliated entities. When this blog uses “AES”, it refers to these entities collectively, rather than one specific company.
If you're an expat in the UAE, you may wish to read more about how to find a regulated financial adviser in Dubai.
Regulation in financial services exists to:
For an international firm, regulation is particularly important because advice and services may cross borders. The protections available to you can differ depending on which AES entity you deal with and where you receive the service.
AES Financial Services Limited, trading as AES International, is authorised and regulated by the FCA, firm reference number 464494. Being FCA regulated means we must:
Where applicable, UK regulated services may provide access to:
Whether these protections apply depends on the type of service and where you receive the advice. UK regulatory protections, including FOS and FSCS coverage, normally don't apply to services delivered outside the UK.
AES Financial Services Ltd – DIFC Branch is regulated by the DFSA, reference number F003476. The DFSA is the independent regulator of financial services conducted in or from the DIFC.
The DFSA authorises AES Financial Services Ltd – DIFC Branch to carry out particular financial services, including dealing in and advising on investments, arranging custody, and arranging and advising on credit, with or for retail clients. DFSA rules require standards of professional conduct, risk management, governance, disclosure and suitability when providing services from the DIFC.
The DIFC has its own legal system and regulatory regime, which is distinct from wider UAE federal law. This means that services provided in or from the DIFC are subject to DFSA rules rather than onshore UAE regulation.
AES Middle East Insurance Broker LLC is licensed and regulated by the CBUAE. The permissions held cover:
As a health and protection adviser, this entity arranges insurance products from third party insurers.
In relation to health insurance activities within Dubai, AES Middle East Insurance Broker LLC is also subject to the rules and requirements of the DHA. This includes complying with DHA standards for the distribution of medical insurance products and the treatment of policyholders within the Emirate.
This means AES Middle East Insurance Broker LLC must comply with UAE laws and consumer protection standards.
AES provides services to clients in different countries, often on a cross border basis. In these situations, several important factors can change from one jurisdiction to another:
Because of this, the protections and outcomes you can expect are not the same in every country or under every AES entity. You should always consider your own jurisdiction’s laws and tax rules and, where appropriate, obtain independent advice before making decisions based on cross border arrangements.
A fiduciary is a person or organisation that manages assets or makes decisions for others and is held to a high standard of conduct in law. The concept is based on trust, confidence and responsibility and has developed over many years of legal and regulatory practice.
Two core ideas often associated with fiduciary duties are:
Many regulatory frameworks around the world reflect these principles and expect firms to act honestly, fairly and professionally, and to put clients' interests ahead of their own commercial incentives where required.
The Centre for Fiduciary Excellence (CEFEX) is an independent global assessment and certification organisation that verifies whether investment advisers and fiduciaries adhere to recognised fiduciary best practices.
Firms that achieve CEFEX certification must undergo rigorous annual audits conducted by independent fiduciary analysts to verify continued adherence to the standard.
These audits are supplemental to statutory regulatory compliance and provide independent verification that the firm's practices align with global fiduciary principles.
AES holds CEFEX certification.
At the time of publishing, AES is the only CEFEX-certified firm operating across the Middle East, Asia and Africa. This certification reflects AES's voluntary commitment to independent verification of its fiduciary processes and ongoing adherence to internationally recognised best practices.
Before engaging any international financial adviser, it's sensible to:
Being clear on these points can help you make informed decisions about the firms you choose to work with.
This article is for general information about the regulation of AES entities. It does not provide financial, investment, tax or legal advice and is not a recommendation to buy or sell any product or to take any particular course of action.
Financial regulation in the UAE exists to protect clients and firms, require companies to act honestly, fairly and professionally, and support confidence in financial markets and services. The UAE has multiple regulatory bodies overseeing different sectors and jurisdictions, each with its own rules and consumer protections. This regulatory framework helps ensure that financial services providers maintain appropriate standards of conduct, systems, controls and capital whilst complying with detailed rules on how they deal with clients.
Yes, AES is regulated in the UAE, operating through separate but affiliated entities. AES Middle East Insurance Broker LLC is licensed and regulated by the Central Bank of the UAE (CBUAE) and subject to Dubai Health Authority (DHA) requirements for health insurance activities in Dubai (licence number 189). Additionally, AES Financial Services Ltd – DIFC Branch is registered in the Dubai International Financial Centre and regulated by the Dubai Financial Services Authority (DFSA), reference number F003476.
The main financial regulatory bodies in the UAE include:
Central Bank of the UAE (CBUAE) – oversees onshore financial services and institutions, including insurance brokers operating in mainland UAE.
Dubai Financial Services Authority (DFSA) – the independent regulator of financial services conducted in or from the Dubai International Financial Centre (DIFC).
Capital Markets Authority (CMA) – regulates capital markets, securities and commodities activities across the UAE. The CMA was established in January 2026, replacing the former Securities and Commodities Authority (SCA).
Each regulator has distinct responsibilities and applies different rules depending on the sector and jurisdiction.
The DFSA is the independent regulator of financial services conducted in or from the DIFC. The DFSA authorises firms to carry out particular financial services, including dealing in and advising on investments, arranging custody, and arranging and advising on credit. DFSA rules require standards of professional conduct, risk management, governance, disclosure and suitability when providing services from the DIFC. The DIFC has its own legal system and regulatory regime, which is distinct from wider UAE federal law.
The CBUAE licenses and regulates financial services providers operating onshore in the UAE. For AES Middle East Insurance Broker LLC, the CBUAE's oversight covers health insurance (medical insurance for SME and corporate clients), general insurance (properties and responsibilities insurance), and insurance of persons and funds accumulation operations. Firms regulated by the CBUAE must comply with UAE laws and consumer protection standards.
The Dubai International Financial Centre (DIFC) is a financial free zone with its own legal system and regulatory regime, which is distinct from wider UAE federal law. The DIFC is regulated by the Dubai Financial Services Authority (DFSA), an independent regulator responsible for overseeing financial services conducted in or from the DIFC. Services provided in or from the DIFC are subject to DFSA rules rather than onshore UAE regulation. This means firms operating in the DIFC, such as AES Financial Services Ltd – DIFC Branch, follow DFSA standards for authorisation, professional conduct and client protection rather than mainland UAE requirements.
Consumer protections vary depending on which entity you deal with and where the service is provided. For onshore UAE services, clients may benefit from protections under CBUAE and CMA regulations, which include compliance with UAE consumer protection standards, depending on which regulator licenses the company you are dealing with. For services provided in or from the DIFC, clients are protected by DFSA rules requiring professional conduct, disclosure and suitability standards. The protections available to you—including complaints processes, compensation schemes and other safeguards—can differ between jurisdictions, so it's important to understand which regulatory framework applies to your specific situation.
AES maintains compliance with UAE financial regulations through its regulated entities. AES Middle East Insurance Broker LLC complies with CBUAE licensing requirements plus DHA standards for health insurance activities in Dubai. AES Financial Services Ltd – DIFC Branch adheres to DFSA rules on professional conduct, risk management, governance, disclosure and suitability. Additionally, AES holds CEFEX certification, which involves rigorous annual audits by independent fiduciary analysts to verify continued adherence to recognised fiduciary best practices. These audits are supplemental to statutory regulatory compliance and provide independent verification of the firm's processes.