Is the Hong Kong Securities Regulatory Commission a non-governmental organization? If it is a non-governmental organization, why are its directors appointed by the Chief Executive?
The Hong Kong Securities and Futures Commission (SFC) is a statutory body independent of the civil service, which is responsible for supervising the operation of the securities and futures market in Hong Kong. The purpose of the organization is to promote the development of Hong Kong's securities and futures market in a fair, efficient and orderly direction through effective supervision and guidance.