Decision on SFC official's contract goes down to wire
Two days from now, the contract of Securities and Futures Commission executive director Mark Steward will expire, yet there is still no word on whether it will be renewed.
Mind you, it is not the first time the Hong Kong government has waited until the last minute before making announcements on senior SFC appointments.
The contract of chief executive Martin Wheatley was renewed only one day before it was due to expire on September 30 last year.
There has been recent speculation that the government is under pressure to replace or clip the wings of Steward (left), who is widely credited with a hardline approach by the SFC against miscreants who breach market rules.
The contract of SFC non-executive chairman Eddy Fong Ching will expire on October 19, while that of SFC chief operating officer Paul Kennedy will end on October 15.
