The Securities and Futures Commission (SFC) welcomes the appointment by the Chief Executive of Dr Kelvin Wong Tin-yau as the Chairman of the SFC for a term of three years from 20 October 2024 (Note 1).
Dr Wong will succeed Mr Tim Lui who will step down on 19 October 2024 having chaired the SFC for six years (Note 2).
Welcoming Dr Wong’s appointment, Mr Lui said: “Kelvin has a wealth of knowledge and experience in the development and regulation of capital markets, in particular, being Chairman of the Accounting and Financial Reporting Council, which the SFC works closely with to uphold the quality and maintain the integrity of Hong Kong’s capital markets and its reputation as an international financial centre.”
“Having previously been a Non-Executive Director of the SFC and Chairman of the then Investor Education Centre, Kelvin is well-versed in the Commission’s policy objectives, its strategic priorities and its operation. I am certain the SFC will continue to benefit hugely from his vast experience in furthering the SFC’s core mission to uphold the quality and integrity of Hong Kong’s financial markets,” he added.
Reflecting on his six-year tenure, Mr Lui said his time at the SFC has been challenging, yet memorable. “It has been my honour to be part of the SFC’s 35-year inspiring journey working with the Board, senior executives and all SFC colleagues to weather through the immense challenges that Hong Kong and its financial markets faced during the last six years, amongst them, the impact brought about by the Covid-19 pandemic and the geopolitical tensions amidst the evolving global economic landscape.”
“The collective efforts have enabled the SFC to ride out the difficult times and continued to make headway in many fronts including enhancing Hong Kong’s global competitiveness and interconnectivity with the Mainland markets; upholding market integrity and maintaining its resilience; leading market transformation through technology and ESG, as well as mitigating harm to our markets to safeguard the interest of investors,” Mr Lui added.
Dr Wong said: “I am honoured to be appointed as Chairman of the SFC, a leading global securities regulator. I look forward to working cohesively with the Board, CEO Julia, and the management team, many of whom I closely partnered with in my previous role as a Non-Executive Director. It is a great moment for the SFC that we must embrace the opportunities and challenges to foster a sustainable and vibrant capital market that not only protects investors’ interest but also promotes economic growth, advances corporate governance and spurs innovation.”
The SFC’s Chief Executive Officer, Ms Julia Leung, said: “I would like to extend a warm welcome to Kelvin and express my deep gratitude to Tim for his exemplary leadership and invaluable guidance in steering the SFC through the many difficult challenges while continuing our mission in pursuing market integrity, transparency and resilience. We now have a set of very clear strategic priorities which would enable the SFC to continue its firm commitment in safeguarding the integrity of our markets and continuing to foster market development.”
“On behalf of the SFC, I wish Tim all the very best and I look forward to continuing working closely with the Board under the leadership of the new Chairman to carry out our regulatory objectives and further strengthen Hong Kong’s status as an international financial centre,” Ms Leung added.
Notes:
- Dr Wong is currently Chairman of the Accounting and Financial Reporting Council until 31 December 2024. He was a Non-Executive Director of the SFC from 2012 to 2018 and was also Chairman of the Investor Education Centre (now known as the Investor and Financial Education Council) from 2017 to 2018.
- Mr Lui was appointed as the Chairman of the SFC on 20 October 2018. His current term ends on 19 October 2024.
