Carlson Tong in line as next SFC Chairman

Carlson Tong Ka-shing is to be appointed the next chairman of the Securities and Futures Commission.

SFC is the independent statutory body charged with regulating the securities and futures markets in Hong Kong. Its mandate includes protecting investors and helping promote Hong Kong as an international financial centre and a key financial market in China.

Media reports said Tong, retired Chairman for China and the Asia-Pacific of KPMG LLP, might be appointed as early as today. He replaces Eddy Fong, whose term ends in October after six years in office. Fong was formerly a senior partner at PricewaterhouseCoopers.

Tong will be appointed to the position by Chief Executive Leung Chun-ying. Among his priorities will be working with to tighten listing sponsor rules.

Tong chaired the Hong Kong stock exchange's listing committee from 2006-08. He joined KPMG in the U.K. in 1979 and returned to Hong Kong in 1985. He became chairman for China and Hong Kong in 2007 and for Asia Pacific in 2009. He retired in April 2011.