The chief executive of Hong Kong’s securities regulator, Ashley Alder, has been appointed chairman of the Madrid-headquartered International Organization of Securities Commissions ("IOSCO"), the SFC said on Friday, 13 May. The announcement followed IOSCO's annual conference in Lima, which ran throughout the week, and ahead of the formation of the global capital markets regulatory association’s new board of directors.
"I am delighted with Ashley's appointment to chair the new IOSCO Board which demonstrates Hong Kong's standing as a leading international financial centre," said Carlson Tong, chairman of Hong Kong's Securities and Futures Commission ("SFC").
The IOSCO Board is made up of 34 national securities regulators, and is the governing and standard-setting body of the IOSCO – it is essentially the primary global policy forum for capital markets regulators. Its membership regulates more than 95 percent of the world's securities markets in over 115 jurisdictions.
Alder was most recently vice chair of the IOSCO Board, having also chaired the IOSCO Asia-Pacific Regional Committee from 2013 to May 2016. Additionally, he chaired the IOSCO Task Force on cross-border regulation and currently heads the body’s Task Force on Market Conduct.
Alder took the helm of the SFC in October 2011. Prior to that, he had been the Asia-Pacific managing partner for British law firm Herbert Smith in Hong Kong.