Information sharing with Chinese authorities crucial for Hong Kong: SFC chief

Ashley Alder, incoming chief executive officer of the Hong Kong Securities and Futures Commission, speaks during a news conference in Hong Kong, China, on Friday, Sept 30, 2011. 

PHOTO: ST FILE

OCT 13, 201510:38 AM

[HONG KONG] Hong Kong's securities regulator said on Tuesday that information sharing with mainland authorities is crucial for the future of the global financial centre.

Hong Kong Securities and Futures Commission (SFC) Chief Executive Ashley Alder, speaking at a regulation summit, added that the city was in talks with mainland regulators over enhanced supervision of Hong Kong units of Chinese companies.

Hong Kong's securities regulator in July extended a near two-month suspension of trade in shares of Hanergy Think Film Power Group amid a probe into a sudden plunge of its stock price in May.

REUTERS