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Rumour mill works overtime on seat filling at the SFC

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It is no surprise that rumours abound over who will replace Securities and Futures Commission chairman Andrew Sheng but the speed with which they spread is breathtaking.

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One stockbroker put it to the test. How long would it take his tip on who would be the new SFC boss to do the rounds?

It was like wildfire. In precisely eight minutes he was hearing back from a fellow professional that former secretary for financial services Rafael Hui Si-yan was the man.

Not a bad punt - Mr Hui is eminently qualified for a comeback into the limelight.

He was the key government official handling the Asian financial crisis in 1997 and 1998, and he also set up the Mandatory Provident Fund Schemes Authority, becoming its managing director in 2000.

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However, retiring from the pension regulator in 2003, Mr Hui relished shedding the shackles of office and was rarely seen in Central. His favourite destination became the Cultural Centre in Tsim Sha Tsui, where he indulges his passion for opera and classical music.

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