Laura Cha Shih May-lung

Council chief pledges to let lawmakers look into body's books

Laura Cha Shih May-lung

The controversial Financial Services Development Council has promised to represent small financial players and allow lawmakers to review its financial statements in a move to ensure transparency.

Tuesday, 5 February, 2013, 5:22am

FSDC vows transparency in first meeting

Executive Councillor Laura Cha (right) presides over the meeting at the government offices in Admiralty. Photo: David Wong

The controversial Financial Services Development Council, which held its first meeting yesterday, said it would not operate "in the dark" and would be transparent as it promoted the city's financial sector around the world.

Set up last Thursday, Chief Executive Leung Chun-ying's brainchild aims to promote the city's financial industry and its links with the mainland.

23 Jan 2013 - 4:17am 1 comment

FSDC defines role amid public doubts

Laura Cha Shih May-lung. Photo: Nora Tam

The newly established Financial Services Development Council held its first meeting on Tuesday after which it announced that it has identified five areas to study.

22 Jan 2013 - 7:38pm

Money matters first for new finance body

Hong Kong could not copy the funding model of City of London.

The new Financial Services Development Council is already mired in controversy, including the central question of who is going to pay its bills and other expenses.

The council has not decided how to finance itself over the long term even though it is going to have its first meeting tomorrow.

22 Jan 2013 - 4:09am

New advisory body aims to promote financial services

Financial Services Development Council chairwoman Laura Cha Shih May-lung. Photo: Nora Tam

Newly-appointed head of the Financial Services Development Council Laura Cha Shih May-lung said on Friday the advisory body would not be interfering in areas traditionally handled by the Hong Kong Monetary Authority (HKMA).

“The [authority] does promotional work too. But we are not a government body,” she explained.

22 Jan 2013 - 7:35pm