The legal recognition of online brokerage in UAE: Is a conceptual rethink imperative?

The flourish of online brokerage in the United Arab Emirates does not only rely on the technology but also depends on the legal framework and whether it is flexible enough to encompass such modern form of brokerage and allow the smooth running of its procedures. This paper thus explores the main challenges that might face the future of online securities transactions via the Internet, and determines whether or not the current legal framework provides adequate protection to the investors in an online environment. Furthermore, this paper briefly addresses the issue of what the law ought to be in order to enhance the trust and the predictability needed by the relevant parties involved in online brokerage service over the Internet.