Former stock exchange vice-chairman Fung Chi-kin has confirmed he will stand in the by-election to replace jailed former legislator Chim Pui-chung, who was expelled from the Legislative Council on September 9. Nominations for the November 5 election run from September 24 to October 7. Mr Fung, vice-chairman and general manager of Bank of China Group Securities, said he would definitely contest the Legco financial services functional constituency seat as he believed stockbrokers from the three sectors of the constituency would support him. The seat serves all stockbrokers, futures brokers and bullion traders. 'I have worked for more than 10 years to serve the councils of the stock exchange, the futures exchange and the Chinese Gold and Silver Exchange Society,' he said. Mr Fung was defeated by Chim for the financial services seat by just eight votes in the May polls. Chim secured 125 votes and Mr Fung 117. 'I believe those who voted for me last time will continue to support me,' he said. Mr Fung said he would seek to put in place more checks and balances on the regulatory Securities and Futures Commission, which is itself not regulated. He also believes the Government has not gone far enough in its 30-point plan to curb speculation in Hong Kong investment markets. 'I think a lot of improvement needs to be made in the settlement of the Hang Seng Index futures, which has brought a lot of volatility to the stock market,' he said. Former legislator Henry Wu King-cheong, vice-chairman of the Chinese General Chamber of Commerce, has not ruled out running for the seat. 'It depends whether voters support me,' he said. 'If brokers want me to work for them, I will contest it.' Stock exchange council member Choi Chen Po-sum, defeated by Chim in the 1995 Legco election, has been named as a possible candidate. She said it was unlikely, however. 'Mr Fung and I are good friends. I fear that a contest would hurt the friendship,' she said. Outspoken council member Syed Bokhary, who ran in the May election, said he was an unlikely starter. 'I could not totally rule out the possibility [of running for the seat]. 'However, if there is someone working for the industry, I don't think I need to stand for it,' he said.