Dubai, UAE, 5 December 2012:  The Dubai Financial Services Authority (DFSA) congratulated, earlier today, the latest group of UAE Nationals who have graduated from the DFSA's Tomorrow's Regulatory Leaders (TRL) Programme and become financial services regulators. The five Nationals, who joined the programme in 2010, have been promoted to Managers in the Supervision Division. Each Manager will now receive a portfolio of financial services firms and act as the lead supervisor, ensuring that their firms will comply with the rules and laws of the Dubai International Financial Centre (DIFC).

To obtain this promotion and responsibility, the group has undertaken two years of specific regulatory training and on-job coaching under the guidance of their local and international colleagues. The graduates have also completed relevant professional qualifications to assist them in their career development.

Mr Ian Johnston, Chief Executive of the DFSA said: "It is our belief that the young talent we have on TRL Programme today will become our future leaders in financial services.  We believe that is a worthy goal, and we will continue to commit time and resources to the development of financial services regulatory skills in each and every UAE National at the DFSA."

The Award ceremony today was attended by the DFSA Chairman, Mr Saeb Eigner; members of the DFSA Board of Directors and employees.

The Dubai Financial Services Authority (DFSA) is the independent regulator of financial and ancillary services conducted in or from the Dubai International Financial Centre (DIFC), a purpose-built financial free-zone in Dubai. The DFSA's regulatory mandate covers asset management, banking and credit services, securities, collective investment funds, custody and trust services, commodities futures trading, Islamic finance, insurance, an international equities exchange and an international commodities derivatives exchange.

Ian Johnston was appointed as Chief Executive of the DFSA in June 2012.  Ian joined the DFSA in November 2006, as a Managing Director, to head-up the Policy and Legal Services Division.

Ian was admitted to practice Law in Australia in the early 1980's and spent most of his career in the private sector. He held a number of senior positions within the financial sector and was CEO of one of Australia's major Trustee Companies. During that time, Ian played a leading role in the Trustee industry and served on the National Council of the Trustee Corporations Association.

In 1999, Ian joined the Australian Securities and Investments Commission where he held the position of Executive Director, Financial Services regulation, and spent several terms as an acting Commissioner. In 2005, Ian took up a position with the Hong Kong Securities and Futures Commission as a Special Advisor.

Ian is a past Chairman of the Joint Forum, which comprises representatives of the major international regulatory standard-setters (IOSCO, IAIS and the Basel Committee).  He is a member of the Technical Committee of the IAIS, the global standard-setting body for insurance regulation, and is a member of the Board of Directors of the Financial Planning Standards Board (FPSB).

For further information please contact:
Ms Angharad Irving - Jones
Head of Corporate Communications
Dubai Financial Services Authority
Level 13, The Gate
Dubai, UAE
Tel: +971 (0)4 362 1661
Fax: +971 (0)4 362 0801
Email: airvingjones@dfsa.ae
www.dfsa.ae

© Press Release 2012