The HKSAR Government Announces Appointment of SFC Chairman

On October 14, the Hong Kong Special Administrative Region (HKSAR) Government announced that the Chief Executive has, pursuant to the Securities and Futures Ordinance (Cap. 571), appointed Dr Kelvin Wong Tin-yau as the Chairman of the Securities and Futures Commission (SFC) for a term of three years from October 20, 2024, to October 19, 2027. Before this appointment, Dr Wong was a Non-Executive Director (NED) of the SFC from 2012 to 2018 and a member of the Listing Committee of the Stock Exchange of Hong Kong Limited from 2007 to 2013. He is currently the Chairman of the Accounting and Financial Reporting Council (AFRC). The Financial Secretary, Mr Paul Chan, said, "Dr Wong has been dedicated to serving the financial services industry of Hong Kong, with extensive experience in the operation of the securities and futures markets, capital market development, corporate governance and financial regulatory matters. Under his stewardship, the AFRC smoothly implemented the accounting and audit regulatory reforms, bringing Hong Kong's regulatory regime in line with international developments. I expect that under Dr Wong's leadership, the SFC will continue to uphold its dual role as a regulator and facilitator of market development to ensure the fair, transparent and orderly operation of the local securities and futures markets, and to strive for reforms and innovations, with a view to solidifying and enhancing Hong Kong's status as an international financial centre." According to the announcement, Dr Wong will continue to serve as the Chairman of the AFRC up to December 31, 2024.