Money MattersMark Steward, Hong Kong's market cop better known as party pooper

In his farewell interview, Mark Steward said he wished he could put on a magic ring and disappear, leaving no trace in the public mind of his work as the enforcement head of the Securities and Futures Commission. Unfortunately, his wish will not come true. He will be remembered even if he does not want to be.

It is not his creativity in turning injunction and asset freeze into powerful weapons to get victims HK$1.4 billion of compensation in the infamous Hontex fraud case or Gome insider trading.

Neither is it his initiative in pushing his teammates and government lawyers to make Citic Pacific ex-boss Larry Yung Chi-kin and his directors defendants in a market misconduct tribunal case a day before the six-year civil action time limit expired.

Impressive feats as they were, what he will be remembered for, instead, is his courage to say "no" to Beijing. That independent streak is a rare quality these days when many of his peers are eager to put their photos with Chinese state leaders not just on their desks but also on official websites.

Bowing is easy to justify. After all, China is a major deal supplier for any market and the constant fear here is, what if it stops handing us the goodies.

At the same time, in a country where access to a regulator comes at a price, it is always good to have friends in high places when leaving any public office as that can lead to deals, jobs and political appointments.