DFSA’s Mark Steward on rethinking AI regulation, repricing conflict in the Middle East and safeguarding Dubai’s growth

2026-09-07

Today’s guest cautions that regulators face a growing gap in understanding and managing the scale and complexity of AI risks and asks whether traditional, technology-neutral regulation can keep pace as adoption accelerates.

He also discusses how Dubai International Financial Centre is weathering conflict in the Middle East. Firms and capital continue to flow into the Centre, but he says that the impact could become more pronounced as businesses reprice a conflict many expected to be short-lived.

And, amid disruption to cloud infrastructure in the region, he discusses operational resilience, technology concentration, and whether regulators themselves fully understand their exposure to critical infrastructure.

Mark Steward is one of the most experienced international regulators of his generation. He previously held senior roles at the Australian Securities and Investments Commission and Hong Kong’s Securities and Futures Commission, before spending seven years at the UK’s Financial Conduct Authority, where he led Enforcement and Market Oversight and latterly also oversaw its International Division.

Since May 2025, he has been Chief Executive of the Dubai Financial Services Authority (DFSA), leading the regulator for one of the world’s fastest-growing financial centres.

He spoke with Following the Rules on 26 August.

No. of episodes

100

Latest episode

2026-10-19

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An insider’s guide to the laws dictating life within UK and EU financial services, the people influencing their development and policing finance workers’ compliance