The Hong Kong Securities & Futures Commission (SFC) welcomed the Financial Secretary’s re-appointment of Christina Choi, Rico Leung and Michael Duignan as Executive Directors for three-year terms, alongside a set of planned changes to senior portfolios later in 2025. Choi will remain Executive Director of Investment Products until 31 October 2025 before moving to Executive Director of Corporate Finance from 1 November 2025. Leung will continue as Executive Director of Supervision of Markets from 28 August 2025. Duignan will become Executive Director of Enforcement from 1 November 2025, when his current term as Executive Director of Corporate Finance ends on 31 October 2025, while the incumbent Executive Director of Enforcement, Christopher Wilson, will leave the Commission at the end of his term on 31 October 2025 after deciding not to seek re-appointment.