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Top SFC exec quits Hong Kong for UK

The executive director of enforcement at Hong Kong’s Securities and Futures Commission is quitting and will work for the UK Financial Conduct Authority.

Mark Steward will be leaving on 1 September before the expiration of his contract on 24 September, the SFC said late Friday. He will take up a similar position with the FCA in London.

“Mark has been instrumental in achieving great outcomes both for investors and for the market during his nine years with the Commission, making the fullest use of all our powers, remedies and sanctions,” said Ashley Alder, the SFC’s chief executive.

“These methods are now hard-wired into the way we operate so that the SFC can build on its strong track record in enforcement in the best interests of Hong Kong’s markets and for the protection of the investing public.” 

Steward joined the SFC in 2006 as executive director of enforcement. He is also a non-executive director of the financial dispute resolution centre. 

The SFC said it has begun a global search for a replacement.

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