Ma Reassures Businesses On HK Regulatory Standards

by Mary Swire, for LawAndTax-News.com, Hong Kong

23 March 2006

Hong Kong's Secretary for Financial Services and the Treasury, Frederick Ma has assured businesses that Hong Kong will deal firmly with those who breach companies and securities laws.

Launching the three-day Corporate Registers Forum hosted by the Companies Registry on Wednesday, Mr Ma said Hong Kong has a robust regulatory regime with requirements on a par with international standards.

"To enhance investor confidence in market quality, we place a lot of importance on safeguarding investors' interests," he explained, adding that:

"Effective enforcement is as important as, if not more important than, a sound regulatory framework."

Registrar of Companies, Gordon Jones observed that companies and business registries play an important role in the commercial and financial infrastructures of any country, and that they are key to promoting business development and ensuring good corporate governance and compliance.

Registrars of companies or their equivalents from 20 jurisdictions, including Australia, Canada, Hong Kong, Malaysia, Mauritius, New Zealand, Samoa, Singapore, South Africa and the UK will share their insights and experiences at the forum.

Officials from the Mainland's State and Municipal Administrations for Industry & Commerce in Beijing and Shanghai are also participating, while members of the European Commerce Register's Forum, the organisation for the Commerce Registers of Europe, are attending as observers.

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