SFC Appoints Academic and Accreditation Advisory Committee Members

The SFC is pleased to announce the appointment of Professor Johannes Chan SC, Professor Ka Lok Chan and Professor Joseph Cheng, and the re-appointment of Mr Albert da Rosa Junior, to its Academic and Accreditation Advisory Committee (AAAC) for a term of two years, from 19 February 2005 to 18 February 2007 (Note 1).

"I welcome Prof Johannes Chan, Prof Ka Lok Chan and Prof Joseph Cheng and the re-appointment of Mr da Rosa. They will bring their professional expertise and valuable experience to the AAAC and help further raise the standards of our intermediaries," said Mrs Alexa Lam, Chairman of the AAAC and SFC’s Executive Director of Intermediaries and Investment Products.

Mrs Lam also paid tribute to Professor Charles Booth, Professor Stephen Cheung and Professor Paul McGuinness, who have retired from the AAAC, for their valuable contribution.

The AAAC was established under section 8 of the Securities and Futures Ordinance to advise the SFC on any policy matters regarding competence and continuous professional training requirements for the industry. It plays a crucial role in raising and promoting industry professionalism, thereby enhancing investor confidence in our market practitioners.

Last year, the AAAC made valuable contributions to improving the Licensing Examination (Note 2). It endorsed new courses to be conducted by the Hong Kong Securities Institute and the Vocational Training Council that would serve as competence alternatives to facilitate the re-entry of former practitioners into the industry. The AAAC also approved two institutions for providing continuous professional training (Note 3).

The AAAC will continue its efforts to raise the standards and professionalism among market intermediaries, identify training and re-training needs of the industry and assist intermediaries in gaining relevant skills and product knowledge to diversify their businesses and remain competitive.

Ends

Notes to Editor:

1. Please see below an updated member list of the AAAC for your reference.

Chairman

• Mrs Alexa LAM
  Executive Director, Intermediaries and Investment Products, SFC

SFC Representative

• Mr Derek SHEK
  Senior Manager, Licensing, SFC

Industry Representatives

• Mr Albert Thomas da Rosa, Junior
  Partner, Cheung, Tong & Rosa, Solicitors & Notaries

• Mr Stephen Chiu Chung Hui, JP
  Managing Director, UOB Kay Hian (Asia) Ltd

• Ms Sandra Yuen Man Lee
  Director, HSBC Asset Management (Hong Kong) Ltd

• Mr Vincent Marshall Kwan Ho Lee
  Managing Director, Tung Tai Group of Companies

Academic Representatives

• Professor Johannes MM Chan, SC
  Dean of Faculty of Law, University of Hong Kong

• Professor Ka Lok Chan
  Head of Department of Finance, Hong Kong University of Science & Technology

• Professor Joseph Yu Shek Cheng
  Professor (Chair) of Political Science, City University of Hong Kong

• Professor Raymond Wai Man So
  Director of Master of Science (Finance) Programme, Chinese University of Hong Kong

2. The Licensing Examination was developed and administered by the Hong Kong Securities Institute, which has been appointed by the SFC as the examination body.

3. For details, please see SFC press release dated 9 December 2004.