What the market wants SFC chief Ashley Alder to do now that he’s in the job for another three years

With Ashley Alder being reappointed as chief executive of the Securities and Futures Commission for the next three years, the market has handed him a wish list ranging from promoting more new listings to developing fintech in the brokerage industry.

The appointment, announced by the Hong Kong government last Friday, will see Alder’s contract renewed for three years when the current one expires in September. He first took up the post in 2011.

Government sources told White Collar that under Carrie Lam Cheng Yuet-ngor’s term as Hong Kong chief executive, which starts from July 1, there will be a strong push for market development. That being the case, it will be interesting to see how the SFC under Alder’s third term can facilitate that process.

We have seen some moves in this direction recently. The SFC last week issued guidance saying it would adopt a flexible approach to approving the listing of infrastructure projects under Beijing’s Belt and Road Initiative. The initiative launched in 2013 by Beijing is aimed at building roads, power plants and other infrastructure projects in 60 countries to promote trade and transportation, with funding needs expected to reach US$8 trillion through to 2020.

Alder has the experience of leading the SFC for six years, while his international credentials include currently serving as chairman of the board of the International Organisation of Securities Commission, which has also helped boost international confidence in the Hong Kong market.

Before Alder’s renewed appointment, there was speculation the government may not reappoint him due to his tough stance on market misconduct and because of the SFC’s controversial listing reform consultation paper.