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The Chief Executive has appointed Mr Carlson Tong to succeed Dr Eddy Fong as the Chairman of the Securities and Futures Commission (SFC) for a term of three years from October 20, 2012 to October 19, 2015. The appointment is made under the Securities and Futures Ordinance (SFO).
Mr Tong is a certified public accountant who retired as Chairman of KPMG China and has served as a Non-Executive Director in the SFC since April 2011. He also served formerly as the Chairman of the Main Board and Growth Enterprise Market Listing Committee of the Stock Exchange of Hong Kong Limited (2006-2008), and as a member of various boards and committees, including the Standing Committee on Company Law Reform (2005-2009), the Occupational Retirement Schemes Appeal Board (2004-2010) and the Mandatory Provident Fund Schemes Appeal Board (2005-2011).
Announcing the appointment today (September 28), the Financial Secretary, Mr John C Tsang, said, "Mr Tong is a highly respected member of the accounting and auditing sector with rich experience in the financial market. We are confident that under his leadership, the SFC will continue to maintain and promote the fair, transparent and orderly operation of our securities and futures markets."
"I would like to thank Dr Eddy Fong for his unfailing dedication and valuable contribution to the SFC over the past six years. Under his chairmanship, the SFC has achieved notable progress in many aspects of market regulation and has commanded respect in the local and overseas markets," Mr Tsang added.
Meanwhile, Mr Tsang has, under the authority delegated by the Chief Executive under the SFO, appointed Dr Kelvin Wong Tin-yau as a Non-Executive Director of the SFC for a term of two years, from October 20, 2012 to October 19, 2014.
Dr Wong has more than 20 years of experience in the banking and securities industries. He is Chairman of the Hong Kong Institute of Directors and sits on the Standing Committee on Company Law Reform. He also serves the Listing Committee of the Hong Kong Exchanges and Clearing Limited.
Mr Tsang said, "Dr Wong has a wealth of experience in the financial services sector and public services. We believe that Dr Wong will provide insight to the work of the SFC, especially in the promotion of good corporate governance and market quality."
Besides the Chairman, the SFC has seven Non-Executive Directors. The other six Non-Executive Directors of the SFC are Mr Chan Kam-lam, Mr Lawrence Lee Kam-hung, Professor Leonard Cheng Kwok-hon, Mr Anderson Chow Ka-ming, Mr Wong Kai-man and Ms Teresa Ko Yuk-yin.
Ends/Friday, September 28, 2012
Issued at HKT 16:54
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