DIFC Regulatory Authority appoints David King as Managing Director of SupervisionPress Release04 Feb 2003 01:10 pm
The DIFC Regulatory Authority today announced the appointment of David King, former Chief Executive of the London Metal Exchange, as Managing Director of Supervision.
David’s role will be to develop and implement the Regulatory Authority’s risk-based approach to supervising firms. It is through this process that the Regulatory Authority seeks to ensure that banks, insurers, asset managers and other institutions comply with the Authority’s high standards.
Phillip Thorpe, Chief Executive, said:
“I am delighted that David is joining us. He brings a wealth of experience to the Regulatory Authority. He has spent a number of years working in senior financial positions in the Middle East and more recently, in his role as Chief Executive of the London Metal Exchange, has played an important part in the growth of that market and the evolution of the UK regulatory system.
David King said:
“I am very excited to be joining the DIFC Regulatory Authority at this time. The Authority is being structured to provide a world-class regulatory environment, drawn from the high standards and best practices of the US, UK and other major financial markets. This is a unique and challenging opportunity.
The DIFC will be a beacon attracting the best of breed from amongst the worlds premier financial services institutions, creating an environment in which financial services markets are able to flourish by capitalising upon the Centres many strategic advantages. The Regulatory Authority will ensure that the highest standards of integrity, transparency and orderliness are achieved through the application of appropriate regulation.”