It looks like the Hong Kong News Awards might have to add a new category next year - best column by a financial services regulator. Securities and Futures Commission chairman Andrew Sheng became the latest to catch the writing bug yesterday, launching a monthly column that will appear on the SFC's website. However, unlike columns written by Hong Kong Monetary Authority chief executive Joseph Yam Chi-kwong and Secretary for Financial Services and the Treasury Frederick Ma Si-hang, the SFC column will not carry a personal byline. Although Mr Sheng said he planned to write many of the articles, the column will be fronted by a fictitious character - Dr Wise. 'Dr Wise represents the collective wisdom and knowledge of market specialists,' Mr Sheng said yesterday as he introduced the first column and a cartoon cut-out of Dr Wise. Despite a striking resemblance to the greying doctor, Mr Sheng insisted he was not the model for the character. The SFC chief did not write the first column - in which Dr Wise likens preparations for a hiking trip to the groundwork needed before making an investment decision. He did, however, write the preface: 'Investment is a lifetime matter ... because we are investing our savings, we must understand what we are buying, why we are buying, and what risks we face and what our investment objectives are.' Wise advice indeed, but unlikely to knock Mr Yam off his perch as the leading member of the bureaucratic literati. The HKMA chief's weekly column, begun four years ago, has been nothing if not eclectic, ranging from analysis of complex monetary issues to surreal narratives and short stories. Mr Ma's monthly efforts, begun only recently, have thus far been more modest affairs. Mr Sheng said he was still thinking of what he would write, adding that recent strong market sentiment had prompted his decision to introduce the educational column. 'The stock market is very active now and many investors are interested in IPOs,' he said. 'It is important to let them know about the risks of stock prices rising and falling and the dangers of margin financing.' Switching back to his regulatory role, Mr Sheng said the SFC was still investigating China Life's initial public offering to determine whether the sponsors had failed in their duties. And he said it was working with Hong Kong Exchanges and Clearing on the exchange's proposal to let the SFC become sole regulator of sponsors.