The Securities and Futures Fee (SFC) of Hong Kong has
introduced that Kelvin Wong Tin-yau will tackle the function of Chairman, efficient
October 20, 2024. Tin-yau will exchange Tim Lui, who has held the place for
six years and is stepping down.
In different information from the Asian Monetary Market, Ratan Tata,
the previous chairman of Tata Sons and a outstanding Indian enterprise determine, died
on October 9 on the age of 86.
Tata was concerned within the Tata Group’s international growth and
performed a key function within the development of Tata Consultancy Companies (TCS), one in all
India’s main IT corporations. As per the newest market information, TCS Value opened at
INR 4,140.00, down from a earlier shut of INR 4,149.20. Prior to now 5 days, TCS
value has decreased by 2.87%.
SFC’s New Chairman Introduced
Lui expressed his assist for Tin-yau ‘s appointment, citing
Tin-yau ‘s expertise in capital markets regulation. Tin-yau has beforehand
served as Chairman of the Accounting and Monetary Reporting Council and labored
intently with the SFC.
Lui talked about Tin-yau’s earlier function as a Non-Government
Director of the SFC and his management of the Investor Training Centre. He
said that Tin-yau ‘s background aligns with the SFC’s targets and can
help in sustaining market high quality and integrity.
Reflecting on his tenure, Lui characterised the previous six
years as difficult, noting occasions just like the COVID-19 pandemic and geopolitical
tensions.
He remarked that the SFC’s collective efforts have helped maintain
Hong Kong’s monetary stability whereas additionally advancing know-how adoption and
selling environmental, social, and governance (ESG) practices.
Management Transition in Regulatory Physique
Tin-yau acknowledged the importance of his upcoming function.
He expressed a want to work intently with the SFC’s Board, CEO Julia Leung,
and the administration crew.
Tin-yau highlighted the significance of creating a
sustainable capital market, defending traders’ pursuits, and fostering
financial development and company governance.
Julia Leung welcomed Tin-yau ‘s appointment and thanked Lui
for his management. She famous the progress made underneath Lui’s steerage and
expressed confidence that the SFC’s regulatory work would proceed successfully
underneath Wong.
Along with his new function, Tin-yau will stay Chairman of
the Accounting and Monetary Reporting Council till the tip of 2024. He served
as a Non-Government Director of the SFC from 2012 to 2018 and chaired the
Investor Training Centre from 2017 to 2018.
This text was written by Tareq Sikder at www.financemagnates.com.
Supply hyperlink
