On 14 October 2024, the Hong Kong’s Securities and Futures Commission (HK SFC) announced the appointment of Dr. Kelvin Wong Tin-yau as its new Chairman for a three-year term, starting on 20 October 2024. Dr. Wong will succeed Mr. Tim Lui, who will step down on 19 October 2024, after serving a successful six-year term. Dr. Wong brings a wealth of experience in financial regulations and capital market development to this leadership role. He is currently the Chairman of the Hong Kong’s Accounting and Financial Reporting Council (AFRC), a body that collaborates closely with the HK SFC to ensure the high standards and integrity of Hong Kong’s financial markets. He will continue in this AFRC position until 31 December 2024.
Dr. Wong is no stranger to the HK SFC. Between 2012 and 2018, he served as a Non-Executive Director of the Commission and also chaired the Investor Education Centre (now known as the Investor and Financial Education Council) from 2017 to 2018. His deep knowledge of the HK SFC’s policy objectives, strategic priorities, and operational framework will be instrumental in his new role as Chairman.
In welcoming his successor, outgoing Chairman Mr. Tim Lui expressed confidence in Dr. Wong’s ability to lead the HK SFC through the next phase of its journey. Mr. Lui highlighted Dr. Wong’s vast expertise in capital markets and his close working relationship with the Commission through his previous roles. Mr. Lui reflected on his own six-year term as a time filled with both challenges and achievements, particularly during the unprecedented global disruptions caused by the Covid-19 pandemic and rising geopolitical tensions.
Mr. Lui’s legacy is marked by the collective achievements of the HK SFC. His dedication to upholding market integrity, promoting transparency, and safeguarding investors’ interests has left a lasting impact on the organization.
Dr. Wong, in his response to the appointment, expressed his honor at being named the new Chairman of the HK SFC. He emphasised the importance of maintaining the quality and integrity of Hong Kong’s financial markets, noting that the HK SFC’s core mission aligns with fostering a sustainable and vibrant capital market. Dr. Wong highlighted the need to protect investor interests while also advancing corporate governance and encouraging innovation within the financial sector.
He looks forward to working closely with the HK SFC’s Board, CEO Julia Leung, and the broader management team, many of whom he had already collaborated with in his prior roles. Dr. Wong’s vision includes building on the HK SFC’s strong foundation, focusing on market development, and addressing emerging challenges in the global financial landscape.
The HK SFC’s Chief Executive Officer, Ms. Julia Leung, welcomed Dr. Wong’s appointment, expressing her gratitude for the leadership and guidance provided by Mr. Tim Lui during his six-year term. She noted that the SFC now has clear strategic priorities in place to continue its mission of ensuring market integrity and resilience. Ms. Leung looks forward to collaborating with Dr. Wong and the Board under his leadership, as the HK SFC continues to strengthen Hong Kong’s position as a leading international financial center.
Dr. Wong’s extensive career in financial regulation and governance has equipped him with a deep understanding of capital market dynamics. His work as Chairman of the Accounting and Financial Reporting Council has played a crucial role in maintaining the standards of corporate reporting in Hong Kong. His tenure as a Non-Executive Director of the HK SFC and his leadership at the Investor Education Centre have given him valuable insight into the Commission’s operations, making him well-positioned to take on this new challenge.
(Source: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=24PR166)
