Hong Kong markets regulator Alder to chair UK watchdog

Published by
Reuters UK

By Alun John and Huw Jones HONG KONG/LONDON (Reuters) -Ashley Alder, chief executive of Hong Kong’s Securities and Futures Commission (SFC), will step down to become chair of Britain’s Financial Conduct Authority (FCA) from January next year, the SFC said on Friday. Alongside FCA Chief Executive Nikhil Rathi, Alder faces a tough task as the FCA undergoes major internal change to become faster in tackling scams, and be ready to punish misconduct in the courts. It follows a damning review of the FCA’s botched handling of the London Capital & Finance investment fund, whose collapse is forcing the…

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