DIFC Regulatory Authority appoints Jamie Orchard as Managing Director of EnforcementPress Release 17 Feb 2003 01:11 pm
The DIFC Regulatory Authority today announced the appointment of Jamie Orchard, formerly Director of Enforcement at the Australian Securities and Investments Commission (ASIC), as Managing Director of Enforcement.
Jamie’s role will be to develop and implement the Regulatory Authority’s enforcement regime. This regime involves investigating and, where appropriate, disciplining authorised firms and individuals who have failed to comply with the Authority’s high standards. In such circumstances, possible sanctions will include a fine, censure (including public censure), an order for restitution or compensation or ultimately withdrawal of authorization. The DIFC’s regulatory authority will work closely with other law enforcement agencies in using its regulatory and civil powers.
Phillip Thorpe, Chief Executive, said:
“I am delighted that Jamie will be joining us. He has extensive experience in implementing and overseeing enforcement activities and policy. Whilst at ASIC he was responsible for the national implementation of the ASIC enforcement methodology which he personally designed and most recently has been playing an important role in developing the strategic direction for ASIC enforcement.”
Jamie Orchard commented:
“I am thrilled to have the opportunity to play a role in a project as exciting as the DIFC, to work with people of such high calibre recruited from around the world, as well as to live in such a wonderful city".