Mark Steward Joined International Securities Board
The Dubai Financial Services Authority leader has been appointed to the board of the International Organization of Securities Commissions.
Updated on Sept. 23, 2026 in Financial Services
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Mark Steward, chief executive of the Dubai Financial Services Authority, has joined the board of the International Organization of Securities Commissions. This appointment is tied to his new role as vice chair of the organization's Growth and Emerging Markets Committee.
Why it matters
The board seat grants the Dubai Financial Services Authority greater influence in global regulatory standards and collaborative policy development. This connection links the emirate's financial oversight body directly to one of the world's most significant market surveillance organizations.
The Dubai Financial Services Authority regulated 1,050 firms by the end of 2025, during which time over-the-counter derivatives activity reached $13 trillion in notional value. A recent review found that 32% of surveyed firms maintained no register of staff trades.
The players
Mark Steward
He is the chief executive of the Dubai Financial Services Authority and a former executive at the UK Financial Conduct Authority.
Islam Azzam
He is the chair of the Growth and Emerging Markets Committee for the 2026 to 2028 term.
Dubai Financial Services Authority
This is the independent regulator for the Dubai International Financial Centre that oversees financial services conducted in the zone.
International Organization of Securities Commissions
This is the global body that brings together the world's securities regulators and is recognized as the global standard setter for the securities sector.
The details
Steward brings extensive international experience to the committee, having served at the UK Financial Conduct Authority from 2015 to 2022. He joins a committee currently chaired by Islam Azzam, who is overseeing the body for the 2026 to 2028 term.
Timeline
Mark Steward began his role as Dubai Financial Services Authority chief executive on May 19, 2025.
Over-the-counter derivatives activity hit $13 trillion during the fourth quarter of 2025.
Islam Azzam began his committee chair term for 2026 to 2028.
Mark Steward joined the board of the International Organization of Securities Commissions on September 23, 2026.
Market Landscape
This move integrates the Dubai regulator into the upper echelons of global policy-making to support the Dubai Economic Agenda's goal of becoming a top four global financial center by 2033. It positions the emirate to exert significant influence over cross-border market standards.
The push for tighter regulatory compliance, such as the mandate for staff trade registers, may lead to increased operational costs and stricter oversight for firms operating within Dubai. Investors and clients should expect a more standardized and transparent environment as the regulator adopts global best practices.
The takeaway
Global regulatory alignment is becoming essential for regional financial hubs looking to scale their influence and attract international capital. Firms should anticipate that participation in international committees will translate into more rigorous local enforcement of global compliance standards.
Further reading
Learn more about global standards in our Financial Services section.
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