Non-executive directors of the SFC are drawn from which fields?

• A. Government officials
• B. Academics
• C. Leaders from legal, accounting and securities industry
• D. Bankers

Answer: (C)

Non-executive directors provide external expertise to a regulator’s board, helping with governance and oversight without being involved in daily operations. For the SFC, the board draws leaders from the legal, accounting and securities industries, giving the regulator insight into statutory requirements, auditing and financial reporting, and the workings of capital markets. This mix ensures sound regulatory judgment, strong governance, and independence from management. Government officials or bankers alone wouldn’t cover the full spectrum needed—legal and accounting perspectives plus securities industry experience are all essential to effectively oversee market regulation.