Kelvin Wong Appointed Chairman of Hong Kong SFC

Kelvin Wong Tin-yau has been appointed as the new chairman of Hong Kong's Securities and Futures Commission (SFC) for a three-year term beginning October 20, succeeding Tim Lui. Wong, who has extensive experience in financial regulation and corporate governance, previously served as a non-executive director of the SFC and chairman of the Accounting and Financial Reporting Council (AFRC). He will continue to lead the AFRC until the end of this year, marking a unique dual capacity during the transition. Financial Secretary Paul Chan expressed confidence in Wong's ability to uphold the SFC's role as both a regulator and market facilitator, especially in light of recent reforms and measures supporting the local financial market. Wong's leadership will coincide with significant developments, including the 10th anniversary of Stock Connect, enhancing Hong Kong's position as a financial center. His appointment reflects a shift, being the first former executive of a listed company to head the SFC, contrasting with previous chairmen who were accountants.