Mark Steward, chief executive of the Dubai Financial Services Authority (DFSA), has become Vice Chair of the Growth and Emerging Markets Committee (GEMC) of the International Organization of Securities Commissions (IOSCO), the DFSA announced on 23 September. The position also makes him a member of the IOSCO Board.
According to the regulator, the committee groups 95 members and 22 non-voting associate members, including ten G20 members, and helps set regulatory priorities and develop international standards for securities markets. Steward said effective regulation is essential for investor confidence and financial stability in emerging markets, which he described as increasingly important to the global system.
The DFSA linked the appointment to the Dubai Economic Agenda (D33), which aims to make Dubai one of the top four global financial hubs by 2033.
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Dubai Financial Services Authority ↗This is an original summary of the linked report, selected by Axxion’s GCC market monitor. Facts are attributed to the publication.