Our Structure
Board of Directors
Board Committees
Audit Committee
KONG, Johnson (Chairman)
POGSON, Keith (Deputy Chairman)
Man Bernard, SC (Member)
Dr WONG Tin Yau, Kelvin, SBS, JP (Member)
YIH, Dieter Lai Tak, JP (Member)
Budget Committee
CHEW Fook Aun (Chairman)
KONG, Johnson (Deputy Chairman)
LEUNG Fung Yee, Julia, SBS, JP1 (Member)
Man Bernard, SC (Member)
TANG, Tony Xiaodong (Member)
YIH, Dieter Lai Tak, JP (Member)
Investment Committee
Dr WONG Tin Yau, Kelvin, SBS, JP (Chairman)
WONG Yick Kam, Michael, SBS, MH, JP (Deputy Chairman)
CHAN Chun Hung, Vincent (Member)
CHEW Fook Aun (Member)
LEUNG Fung Yee, Julia, SBS, JP (Member)
Remuneration Committee
Dr WONG Tin Yau, Kelvin, SBS, JP (Chairman)
YIH, Dieter Lai Tak, JP (Deputy Chairman)
CHAN Chun Hung, Vincent (Member)
CHEW Fook Aun (Member)
MAN Bernard, SC (Member)
KONG, Johnson (Member)
POGSON, Keith (Member)
TANG, Tony Xiaodong (Member)
WONG Yick Kam, Michael, SBS, MH, JP (Member)
1 In non-voting capacity.
External Committees
Advisory committee
The Advisory Committee was established under the Securities and Futures Ordinance (SFO) to offer insight and advice on policy matters related to the performance of the SFC's functions. It is chaired by our Chairman and comprises the CEO and not more than two other EDs, as well as a majority of external representatives appointed by the Financial Secretary under the authority delegated by the HKSAR Chief Executive.
Regulatory committees and nominations committee
Also set up under the SFO, these committees specialise in specific regulatory areas, eg, investment products, takeovers and mergers and the rights and interests of shareholders. Members are appointed by the Board and include NEDs, EDs and a large external representation.
- Academic and Accreditation Advisory Committee
- Committee on Real Estate Investment Trusts
- Disciplinary Chair Committee
- Investor Compensation Fund Committee
- Nominations Committee
- Products Advisory Committee
- Public Shareholders Group
- Securities Compensation Fund Committee
- SFC (HKEC Listing) Committee
- SFC (HKEC Listing) Appeals Committee
- Share Registrars’ Disciplinary Committee
- Share Registrars’ Disciplinary Appeals Committee
- Takeovers and Mergers Panel
- Takeovers Appeal Committee
Executive Committee
LEUNG Fung Yee, Julia, SBS, JP, Chief Executive Officer
CHEN Ping, Lisa, Executive Director, Legal Services
CHOI Fung Yee, Christina, Executive Director, Corporate Finance
DUIGNAN, Michael, Executive Director, Enforcement
LEUNG Chung Yin, Rico, Executive Director, Supervision of Markets
NG Ka Li, Elisa, Executive Director, Investment Products
Dr YIP Chee Hang, Eric, Executive Director, Intermediaries
YEUNG Kwok Leung, Paul, Chief Governance Officer and Commission Secretary, Secretariat and External
CEO's Office
Secretariat and External
Secretariat and External comprises three functions: Secretariat, Corporate Communications and Complaints. It sits within CEO’s Office and is headed by the Chief Governance Officer and Commission Secretary, who provides overall governance oversight and supports alignment with the Board’s steer and the SFC’s objectives. The Chief Governance Officer and Commission Secretary is also secretary to the SFC’s Board and a member of the SFC’s Executive Committee.
- Support the SFC’s corporate governance through the Secretariat function, which in particular:
- advises the Chairman and the CEO on governance matters and supports effective oversight, accountability and decision-making in line with the SFC’s statutory responsibilities and public mission;
- provides secretariat support to the Board and its committees, including meeting planning, coordination of papers and records, and follow-up on decisions as appropriate;
- coordinates governance and public policy matters across the organisation, including liaison with the Government and stakeholders in the public sector, to facilitate clear information flow between the Board, management and relevant stakeholders;
- handles complaints against the SFC or its staff and personal data matters; and
- maintains governance processes and records to promote transparency, consistency and institutional resilience.
- The Corporate Communications function serves as the SFC’s centralised external communications unit. It works with other divisions to develop and execute strategic initiatives for outreach and communications with the industry, the public and other stakeholders, and to present clear and consistent institutional messaging. In particular, it:
- manages media relations, digital communications and publicity, including investor education; and
- provides editorial, speech-writing and event management services, and manages the SFC’s website and social media platforms.
- The Complaints function administers and evaluates complaints against intermediaries and market activities, oversees the SFC’s complaint handling procedures, and serves as the secretariat to the SFC’s Complaints Committee.
International Affairs and Sustainable Finance
Support the board and senior management in its participation in the international regulatory community, including:
- Advising on strategies in relation to international securities regulatory developments and sustainable finance initiatives;
- Enhancing cooperation between the SFC and overseas regulatory authorities, both bilaterally and through multilateral organisations, such as IOSCO and the FSB; and
- Coordinating with the HKSAR Government, other regulatory agencies and industry bodies on international developments, sustainable finance, and on formulating and implementing initiatives.
Mainland Affairs
- Monitor and research developments and regulatory trends in Mainland capital markets and provide advice on relevant strategies and cooperation initiatives;
- Maintain close communication with the China Securities Regulatory Commission and other Mainland authorities to facilitate cross-boundary cooperation, and coordinate communication and cooperation between the SFC and Mainland regulatory authorities; and
- Support initiatives led by the HKSAR Government on Mainland-Hong Kong financial cooperation.
Information Technology
- Develop and implement IT strategies and data governance frameworks for the SFC to enhance market supervision and effective regulatory outcomes
- Manage the best use of information technology to support the operational needs of the SFC
Functional divisions
The constitution and proceedings of the board are defined by the SFO. Our board of directors is responsible for setting the overall direction for, and for providing strategic guidance to, the organisation. It comprises a non-executive Chairman, a Chief Executive Officer (CEO), and other Executive Directors (EDs) and Non-Executive Directors (NEDs).
All board members are appointed for a fixed term by the Chief Executive of the Hong Kong Special Administrative Region (HKSAR) or the Financial Secretary under delegated authority. The majority of board members are NEDs.
Board committees consisting of our board members look into particular internal operations. Each committee is chaired by a non-executive director.
Responsibilities
- Reviews annual financial statements
- Examines management procedures to ensure effective financial and internal controls
- Recommends the appointment of external auditors
- Coordinates the scope of the external audit and reviews audit findings
Responsibilities
- Examines and approves the parameters and bases used in the annual budget
- Reviews the annual budget and makes recommendations to the Board
- Conducts the mid-year budget review
Responsibilities
- Advises on the SFC’s fund management policies, strategies and investment guidelines
- Recommends the appointment of investment managers and advisers and monitors their performance including compliance with our investment guidelines
- Advises on investment risk management and asset allocation and monitors the performance of investments
Responsibilities
- Reviews the structure and level of staff remuneration
- Reviews trends in remuneration packages and recommends adjustments
- Considers other matters as required, including recommendations to the Government on the remuneration and reappointment of Executive Directors
To reflect the diverse views of various market participants, external committees are made up of a variety of stakeholders in Hong Kong's markets. The committees fall into two categories – advisory and regulatory – and play a significant role in the governance of the SFC.
Responsibilities
- Implements goals set by the Board and ensures that the SFC functions effectively
- Considers proposals and expense requests from within the SFC
- Meets weekly to discuss topical issues
Last update: 31 Aug 2026