Distinguished guests, ladies and gentlemen, good morning. Thank you to the Law Society of Hong Kong for bringing this globally significant conference to the city for the very first time. It is an honour for me, as a financial regulator, to join this meaningful dialogue with prominent legal regulators from around the world. Your theme, “New ways to regulate in a changing world?”, not a definitive statement but a question, captures exactly the mood and moment we are living in.
In my opinion, cross-sector regulatory dialogue is much needed to gather our collective resolve and expertise to uphold the principles of justice and integrity to tackle evolving challenges in the world today. Such exchange between financial and legal regulators is increasingly important as our markets are facing heightened risks, uncertainties and volatility.
The Securities and Futures Commission (SFC) of Hong Kong shares the legal regulators’ commitment to the rule of law, as we strive to ensure Hong Kong’s capital markets continue to thrive in a well-regulated environment that upholds integrity. This is pivotal in maintaining the trust of global investors in the city as an international financial centre (IFC).
Today, I want to offer three reflections that frame how we, at the SFC, adopt a balanced regulatory approach to help market participants and investors navigate a complex global environment. It is imperative that we play our dual roles effectively as both guardian and facilitator.
First, I will highlight the evolving challenges to Hong Kong’s capital markets; second, I will explain how the SFC’s balanced regulatory approach – the Golden Mean (中庸之道) – helps navigate these challenges; and third, I will discuss the critical importance of industry engagement to our approach in building trust and resilience systems for the future.
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