News
Stephen Haddrill is the new Chief Regulator
22 May, 2009
The current director general of the Association of British Insurers, Stephen Haddrill, has been appointed as the New Chief Regulator. Haddrill succeeds Paul Boyle who is to leave the FRC when Haddrill takes over in mid-November. Boyle intends working closely with Haddrill to ensure a smooth handover.
Chairman of the FRC, Sir Christopher Hogg, has reported that Haddrill demonstrates commitment to promoting higher standards of corporate reporting, and that his experience as director general of the Association of British Insurers would also enable him to bring a strong investor perspective to the work of the FRC.
Haddrill is taking over as the new regulator at a critical time and was quoted as saying that the financial crisis had raised some important questions about the future of accounting and governance and that he was looking forward to ensuring that the FRC found the right answers and bring reform wherever necessary while preserving a market-based system of governance.
In 2005 Stephen Haddrill joined the ABI and previously was the director general of the Fair Markets Group at the department of trade, where he was responsible for company law, trade and European issue and employment relations. Currently he is a member of the Financial Crisis Advisory Group which was set up by the International Accounting Standards Board, and the FASB/ USA responding to the global credit crisis.
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