The scope of this Regulation includes the licensing and the ongoing supervisory and enforcement requirements on the licensed companies for providing SVF in the UAE, excluding the Financial Free Zones. Financial institutions regulated by Financial Free Zone Authorities may conduct SVF business in the State after obtaining a License from the Central Bank. Under the framework, the Central Bank is empowered to (a) decide whether an SVF License should be granted; (b) conduct ongoing supervision of Licensees; and (c) conduct examination and impose sanctions and measures on Licensees when required.