Council members look to a new role

The stock exchange has taken another step towards becoming a public body with the formation of an ethics and guidance committee.

The committee - which is composed of seven stock exchange council members - will advise the 31-member council and exchange executives on matters relating to its transformation into a public body under the anti-bribery ordinance.

After the switch, exchange executives, directors and council members will be treated as public servants and face tougher rules.

The exchange is in talks with the Independent Commission against Corruption and the Securities and Futures Commission on the guidelines.

The guidelines will aim to help exchange members avoid breaching ICAC rules in their business dealings.

PC Woo & Co senior partner Moses Cheng Mo-chi was appointed convenor of the committee. Other members are Thaddeus Beczak, Henry Chan, Fong Hup, Frederick Ma Si-hang, David Roberts and Peter Wong Shiu-hoi.