FRC appoints David Rule as executive director of supervision

The Financial Reporting Council (FRC) has appointed David Rule to a newly established position as executive director of supervision.

He will join the FRC on secondment from the Bank of England’s Prudential Regulation Authority (PRA) where he is executive director, insurance supervision.

Rule will lead the regulators audit quality and corporate reporting review functions and sit on the FRC’s executive committee. Reporting to the FRC’s chief executive, he will be responsible for overseeing the supervision and monitoring of audit and company reporting.

Rule will also play a “key role” in the FRC’s transition to a new regulator, the Audit, Reporting and Governance Authority (ARGA).

Stephen Haddrill FRC CEO said: “I am delighted to welcome David to the FRC. He brings substantial experience and understanding of financial markets that will be invaluable to the FRC as we transition towards a new statutory regulator.”

“He joins the FRC at a time of strategic importance and will play a significant role in driving further improvements in audit and reporting quality.”