Martin Wheatley to quit Securities and Futures Commission

Wheatley has been cited for his zealous efforts in building up Hong Kong's strong regulatory structure amid global financial crisis.

The Securities & Futures Commission said on Wednesday its Chief Executive Officer Martin Wheatley will leave the body next summer.

Commission chairman Dr Eddy Fong said Mr Wheatley’s leadership has helped the body weather many challenges and strengthen its position as a globally respected regulator, according to a Securities and Futures Commission report.

Speaking on his six years with the body, Mr Wheatley said: "The commission has taken in its stride the many challenges that confronted the financial markets and regulators and we have been able to adopt a pragmatic and sensible approach in our regulation. I am also encouraged to see the work we have done in tackling market misconduct.

“I am very grateful for the support, dedication and professionalism of our staff who carried out their duties conscientiously under very trying circumstances at times. I would like to thank them for their commitment and hard work and I wish the commission continuing success.”

Mr Wheatley was appointed the commission's first Chief Executive Officer in 2006. He chairs the International Organisation of Securities Commissions’ Technical Committee Task Force on Short Selling.

Acting Financial Secretary Prof KC Chan said Mr Wheatley has made "zealous efforts" in fostering Hong Kong's strong regulatory structure and has successfully led the commission in responding to a global call for tightening regulation of investment products and market activities. Under his exemplary leadership, the commission's profile as a leading financial regulator has been significantly enhanced.