The Financial Services Bureau (FSB) will apply for up to $5.25 million in annual funding to create two new senior posts.
Deputy Secretary for Financial Services Rebecca Lai Ko Wing-yee said the bureau would apply to appoint a new deputy secretary for financial services and a new principal assistant secretary.
It would apply for the funding from the Legislative Council on Wednesday.
'The FSB does not have adequate staffing at the directorate level to cope with the increasingly substantial and complex work . . . in respect of companies, insolvency, insurance, occupational retirement schemes and Mandatory Provident Fund schemes,' she told a Legco panel meeting yesterday.
Mrs Lai will continue to be in charge of banking, securities and financial infrastructure, while the new deputy will handle insurance, retirement schemes and companies.
The new principle assistant secretary will handle retirement schemes and insurance. The move will increase the number of principal assistant secretaries from four to five.
