Who can give orders to SFC about how SFC performs its functions?

• A. CEO of SFC
• B. Financial Secretary
• C. Chief Justice
• D. CEO of HKSAR

Answer: (D)

In Hong Kong, the SFC is a statutory body set up by law to regulate securities and futures markets, so it operates with a degree of independence in how it carries out its functions. However, the authority to set overall directions for how such bodies perform their functions rests with the head of the HKSAR government. The Chief Executive represents the government and can issue policy directions to statutory bodies to ensure alignment with government objectives. The other options do not have the same overarching authority over how the SFC performs its functions: the Financial Secretary handles budgeting and broad policy, the Chief Justice is part of the judiciary with independent functions, and the SFC’s own CEO administers the agency but does not directs government policy. Thus, the Chief Executive of the HKSAR is the person who can give such directions.