Hong Kong regulatory body the Securities and Futures Commission (SFC) has announced that CEO Martin Wheatley will step down in summer 2011.
Wheatley joined the SFC in June 2005 and was appointed as its first chief executive officer in 2006.
Prior to the SFC, Wheatley served as deputy CEO of the London Stock Exchange and was also chairman of FTSE International and a part of the listing authority advisory committee for UK regulator the Financial Services Authority.
Wheatley is currently a member of the standing committee for standards implementation of regulatory advisory body the Financial Stability Board and a member of the International Organisation of Securities Commissions (IOSCO) technical committee. He currently chairs the IOSCO Technical Committee task force on short selling.
“My six years with the SFC – hectic and demanding at times – have been very fruitful,” said Wheatley. “The SFC 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 that we have done in tackling market misconduct.”
“It has been a great pleasure working with Martin, whose leadership has helped the Commission ride out many challenges and strengthen its position as a globally respected regulator,” added Eddy Wong, chairman, SFC.