The Hong Kong Securities and Futures Commission (SFC) announced today that its Chief Executive Officer (CEO), Ashley Alder, was appointed as chair of the new Board for the International Organization of Securities Commissions (IOSCO), according to an SFC press release.
The Board of IOSCO is represented by 34 securities regulators and it acts as the governing and standard-setting body for IOSCO – a leading international policy forum for regulators which represents 115 jurisdictions or 95% of the world’s securities’ markets.
IOSCO just concluded its annual conference in Lima Peru yesterday. At the end of the five-day event, the inaugural meeting of IOSCO’s new board took place, immediately preceding a panel about fintech and blockchain challenges – before the closing remarks wrapped up the event.
From Vice-Chair to Chairman
Mr. Alder was previously Vice Chair of the IOSCO board, and had also served as the Chair of IOSCO’s Asia-Pacific Regional Committee over a three-year span until 2016, and had also chaired the organizations’ task force on cross-border regulation. In addition, the press release noted that he currently heads the task force on market conduct.
Commenting on the appointment, SFC Chairman, Carlson Tong, said in the press release: “I am delighted with Ashley’s appointment to chair the new IOSCO’s Board which demonstrates Hong Kong’s standing as a leading international financial centre.”
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CEO Term Through 2017
According to information on the SFC website, Mr. Adler’s appointment as CEO of the SFC is set to expire on September 30th of 2017, representing a term of nearly six years after his initial appointment on October 1st 2011.
He had previously worked as an executive director with the SFC in 2001 for a nearly four year period and contributed to a number of initiatives ranging from work related to public company listings to futures trading related ordinances, policy initiatives and efforts to help improve corporate governance.
Initially starting his career as a lawyer in London, after graduating with a Bachelor of Laws degree from the University of London in 1982, and with first-class honours from the University of Cambridge with the Master of Laws degree in 1983, according to an SFC profile description.
Mr. Adler practiced law in Hong Kong for over 20 years, and was Head of Asia of the international law firm Herbert Smith LLP in Hong Kong, and focused within capital markets on equities, mergers and acquisitions, and private equity and venture capital, as well as handling compliance and regulatory matters.