HK renews contract for market enforcement chief

The government of Hong Kong said on Friday it has renewed the contract of Mark Steward, the enforcement chief of the city’s Securities and Futures Commission.

Steward, who has been at the market regulator since 2006, had been tipped for a possible move to London to lead the enforcement division of the Financial Services Authority. His current contract was due to run out next month, but will now run until September 2015.

The Australian lawyer has ruffled the feathers of Hong Kong’s financial establishment for his hardline approach to rule breakers. Under his watch, the regulator gained its first criminal conviction for insider dealing and forced a fraudulent Chinese company to repay investors.

http://in.reuters.com/article/2012/08/24/hongkong-regulator-idINL4E8JO2HK20120824

 

Category: Hong Kong