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Enoch Yiu

The Hong Kong government has renewed the contract of Julia Leung Fung-yee as CEO of the Securities and Futures Commission (SFC) to ensure consistent leadership while the market regulator carries out a raft of in-progress reforms.
Confirming the Post’s report in October, the government said on Friday that Leung would stay in her job until at least December 31, 2027.
“Over the next two years, her focus on strategic initiatives – particularly in data, talent and succession planning – will further strengthen the commission and consolidate Hong Kong’s premier global standing,” said SFC chairman Kelvin Wong Tin-yau in a statement on Friday.
Although Leung would soon reach the age of 65, that was not an issue for renewing her contract because the regulator did not have a fixed retirement age for senior executives, Wong said in a briefing earlier this month.
A former journalist at The Asian Wall Street Journal, Leung started her term as the first woman to head the SFC in January 2023. Her current three-year term expires at the end of this year.
“She has demonstrated remarkable performance in leading the SFC to fulfil its dual mandates of prudent regulation and fostering market development in a fair, effective and robust manner,” said Financial Secretary Paul Chan Mo-po in a government announcement.
Leung said that over the past three years, she and her team had “made significant strides in strengthening Hong Kong’s position as a leading international financial centre”.
Looking ahead, Leung said she would continue to work with all stakeholders “to further investor protection, enhance market integrity and drive innovation in the years ahead”.
In September, Leung joined Eddie Yue Wai-man, chief executive of the Hong Kong Monetary Authority, in unveiling a blueprint to develop the city’s fixed income and currency markets.
The SFC is also working with bourse operator Hong Kong Exchanges and Clearing (HKEX) on comprehensive listing reforms, including a plan to allow small and diverse companies with multiple voting rights to raise funds in the city.

At the SFC, Leung introduced a licensing regime for virtual asset trading platforms. The regulator had granted licences to 11 operators as of July.
She has also joined various government officials and HKEX executives on roadshows in the Asean and Middle East markets to promote Hong Kong.
Chan said Leung had ensured the SFC had “effective communication” with markets and regulators in Hong Kong and overseas, and had helped strengthen the many cross-border schemes that allow trading with mainland China and other markets.
“In addition, the SFC has actively promoted the development of asset and wealth management, fixed income and currency markets, and emerging sectors including digital assets,” Chan said.
The Hong Kong Investment Funds Association (HKIFA) welcomed Leung’s extended contract as it would provide continuity for many reforms, according to chairman Sam Yu Chun-sing.
“The SFC has just announced the relaxation of certain rules regarding the Wealth-Management Connect, while it also has an ongoing consultation on the unit trust code.” HKIFA would meet with Leung next month to further discuss these projects, he added.
Yu said he hoped Leung would continue to promote exchange-traded funds, as well as further development of HKEX’s fund sales platform.
“The fund-management industry is an important part of the Hong Kong capital market, and the HKIFA will work closely with the SFC to further promote the sector,” Yu said.
Stockbrokers would like to see Leung achieve a balance between regulation and market development, said Katerine Kou, a director of the Hong Kong Securities Association, an industry body for brokers.
“We would like to see the SFC adopt proper regulation on the markets and also virtual asset trading to ensure investor protection, but not to over-regulate the market,” Kou said.


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The CEO of the Securities and Futures Commission will stay on for at least two more years to see through a series of ongoing reforms


The CEO of the Securities and Futures Commission will stay on for at least two more years to see through a series of ongoing reforms.


Hong Kong government renews contract for top market regulator Julia Leung

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}The CEO of the Securities and Futures Commission will stay on for at least two more years to see through a series of ongoing reforms

The CEO of the Securities and Futures Commission will stay on for at least two more years to see through a series of ongoing reforms