Hong Kong’s Securities and Futures Commission chief executive, Ashley Alder, will step down from his role in September 2020 following the end of his third three-year term.
Ashley Alder was lauded for his «front-loaded approach» during his post-crisis tenure, according to a statement from a spokesperson, having applied stricter enforcement evidenced by larger penalties beyond just cash fines including, for example, a one-year IPO ban against UBS.
«[Alder] has been at the helm of the SFC for eight years during which the organization has pursued a set of intensive policy and operational reforms to tackle market risks as well as setting itself as a tough, competent and effective market regulator,» the SFC spokesperson said.
«The changes which have been put in place are now embedded and institutionalized and [Alder] believed it is the right time to hand over to new leadership.»
