HK SFC Chmn To Seek Closer Ties With Chinese Regulators
--The newly-appointed chairman of Hong Kong's Securities and Futures Commission said Friday he will seek closer ties with regulatory counterparts in China during his three-year term, as more mainland companies apply to list shares in the city. Eddy Fong told reporters China's economic development will continue to fuel the growth of Hong Kong's stock market. Already, mainland China companies account for about 40% of the market capitalization in the territory's stock exchange, he said. 'Therefore, there is the need to maintain close and regular ties with our counterparts like the CSRC,' Fong said. 'We will continue to develop this relationship and talk to them regularly on issues of mutual interest.' Fong said he will soon visit Beijing, likely meeting with officials at the China Securities Regulatory Commission, the nation's top securities regulator. Fong's appointment comes after a controversial change in the law in June that split the former SFC executive commission chairmanship into two jobs to boost checks and balances at the commission. The government said the separation the SFC's top post can enhance the internal governance of the commission. However, some lawmakers, critical of the split, have said the process of selecting a non-executive chairman appointed by the city's chief executive isn't transparent. As the new chairman, Fong will be independent of the executive arm of the SFC, which is headed by Chief Executive Martin Wheatley, who was appointed in September last year. Fong said he will 'cooperate and share the duties' with Wheatley in guiding the SFC, adding that he isn't worried about potential conflicts that might arise from his new role. 'I don't think it's a major issue. The important issue here is to build mutual trust (with Wheatley),' said Fong. Fong, a trained accountant, has been a non-executive director at the SFC since January 2005. He is also chairman of the commission's audit committee, responsible for reviewing the audit findings and monitoring the effectiveness of the commission's accounting and internal control, the government said.
香港证监会主席寻求与内地监管部门密切合作
--香港证券及期货事务监察委员会(Securities and Futures Commission, 简称：香港证监会)新任主席方正(Eddy Fong)周五表示，随着越来越多的内地公司申请在香港上市，他将在未来3年任期内寻求与内地监管部门密切合作。 方正向记者们表示，中国内地的经济发展将继续为香港股市的增长提供支持。他称，目前中国内地公司约占香港股市市值的40%。 方正表示，因此，香港证监会有必要与包括中国证券监督管理委员会(China Securities Regulatory Commission, 简称：中国证监会)在内的有关部门保持密切及经常性的联系；他们将继续发展上述联系，并就互相关心的问题举行经常性对话。 方正表示，他不久将访问北京，届时可能会与中国证监会官员会晤。 对方正的任命是继6月份一次饱受争议的法律调整后作出的，根据调整后的法律，原有的证监会执行主席职位被分拆为非执行主席职位和新设的行政总裁职位，以加强内部制衡。 香港政府表示，此次调整能够增强该委员会的内部治理。不过，部分立法委员对此表示反对，认为选举一名经香港特区行政长官任命的非执行主席的过程不够透明。 作为证监会新任主席，方正将独立于行政总裁领导的执行管理层。证监会行政总裁是去年9月份上任的韦奕礼(Martin Wheatley)。 方正表示，在领导证监会方面，他将与韦奕礼合作并分担责任，他不担心由新职位引发的潜在分歧。 方正说，这不是主要问题，重要的是在他和韦奕礼之间建立起互信机制。 方正是一位训练有素的注册会计师，自2005年1月份起担任香港证监会的非执行董事。香港政府称，方正还担任香港证监会稽核委员会主席，负责覆核该会的年度财务报表及稽核结果，以及监察证监会会计及内部监控系统的有效运作。
