Convoy Global Holdings and Capital Market Development: Kelvin Wong Steps In as SFC Chairman

Kelvin Wong Takes Charge of Hong Kong's SFC

The Hong Kong government has named Kelvin Wong Tin-yau as the new chairman of the Securities and Futures Commission (SFC), succeeding Tim Lui Tim-leung. Wong, aged 63, is set to start his three-year term from October 20. Previously holding executive roles at Cosco Shipping Ports, he is notably the first ex-executive of a listed company to lead the SFC.

“I am honored to be appointed as chairman of the SFC, a leading global securities regulator,” Wong stated. His ambition is to embrace the opportunities and challenges ahead, fostering sustainable and vibrant capital markets that protect investors’ interests and promote economic growth.

Continuing Influence at AFRC

Wong will retain his position as chairman of the Accounting and Financial Reporting Council (AFRC) until year-end, a tenure that began in October 2019. Under his guidance, the AFRC has implemented significant reform, enhancing regulatory independence aligned with international standards.

Regulatory Evolution in Hong Kong

• AFRC assumed powers from the Hong Kong Institute of Certified Public Accountants.
• Active investigations into major firms including China Evergrande Group, Next Digital, and Convoy Global Holdings.
• Wong's past experience at the SFC reinforces his regulatory credibility.

Financial Secretary Paul Chan Mo-po emphasized Wong's dedication to the financial sector and his extensive expertise. As he steps into this new role, Wong's commitment is to uphold fair and orderly market operations and drive innovation to bolster Hong Kong's standing as an international financial center.

Engaging with Market Players

Lawmaker Robert Lee Wai-wang expressed optimism about Wong's leadership. He emphasized the need for Wong to maintain open communication with local industry stakeholders and engage with international regulators to further cross-border trading initiatives.