(Bloomberg) -- Brian Ho, an executive director at Hong Kong's Securities and Futures Commission, will leave after more than two decades at the regulator.
Ho will retire when his contract expires on Aug. 27, according to an SFC statement on Monday. Ho oversaw corporate takeovers and mergers, as well as listing matters within the Hong Kong stock exchange.
He was the longest serving senior manager on the current SFC board. Megan Tang, a senior director of the division, will take over as an interim head of corporate finance, while the commission has started a global search for Ho's successor.
“Throughout his 28-year tenure, Brian has shown unwavering dedication to public service and commitment to the highest regulatory standards in order to ensure the successful development of Hong Kong as a leading listing market,” SFC Chief Executive Officer Ashley Alder said in the statement.
Starting Aug. 28, Ho will take an advisory role at the SFC for six months.
SFC is the front line regulator for licensed brokerages and banks in Hong Kong's $6.4 trillion stock market. The watchdog also oversees stock exchange operations and listing matters in a dual filing system, in which sponsor banks and companies are obligated to satisfy inquiries from both the bourse and the SFC before shares are allowed to float.
HKEX's Listings and Business Chinese Wall Ambiguous, SFC Says
Ho's successor will need to oversee a potential surge in Chinese companies listing in the financial hub as the U.S. tightens access to its markets. A local framework for special purpose acquisition companies is also in the works, with a framework expected to be released this fall.
Gensler Warns of Chinese Company Risks After SEC Crackdown
©2021 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
