Monday, November 05, 2012

Carlson Tong, Hong Kong CPA and former Chair of KPMG China, Named New Chair of Securities and Futures Commission

Carlson Tong has been named the new Chair of the Hong Kong Securities and Futures Commission, replacing Dr. Eddy Fong, who has served as Chair for six years. Mr. Tong, a UK chartered accountant and a Hong Kong CPA, had been a non-executive director of the SFC since April of 2011. Chairman Tong was a member of the SFC’s Takeovers and Mergers Panel from 2001-2009 and a member of the Commission’s Dual Filing Advisory Group from 2002-2008. He also served as a member of the Standing Committee on Company Law Reform. He was Chairman of KPMG China from 2007-2011.

Chairman Tong said that the SFC plays a vital role in upholding Hong Kong's position as a leading international financial center. Ashley Alder, SFC Chief Executive Officer, said that the SFC will continue to benefit hugely from Chairman Tong’s vast experience of the activities and markets that the Commission regulates. Mr. Alder also thanked outgoing Chairman Fong for his advice and unstinting support in the past six years at a time when the global financial market faced unprecedented challenges and uncertainties.