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Each division is headed by an Executive Director and supported by the Legal Services Division and Corporate Affairs. Intermediaries and Investment Products. Executive Director. . Executive Director. is responsible for devising and administering licensing requirements for securities and futures. The Supervision of Markets Division. is responsible for administering the Takeovers and Mergers Code and Share Repurchases Code. and Supervision of Markets. supervising and monitoring intermediaries' conduct and financial resources. overseeing the Stock Exchange's listing-related functions and responsibilities. under the direction of Alexa Lam. and instituting disciplinary procedures for misconduct by licensed intermediaries. under the direction of Mark Dickens. promoting and developing selfregulation by market bodies. and administering securities legislation relating to listed companies. is responsible for supervising and monitoring activities of the exchanges and clearing houses.The Securities and Futures Commission of Hong Kong Operational Divisions The SFC has four operational divisions: Corporate Finance. Executive Director. and regulating the public marketing of investment products. under the direction of Alan Linning. and overseeing and managing the investor compensation funds. Executive Director. under the direction of Ashley Alder. The Corporate Finance Division. including possible insider dealing and market manipulation. undertaking inquiry into alleged breaches of relevant ordinances and codes. encouraging development of the securities and futures markets. Enforcement. The Intermediaries and Investment Products Division. The Enforcement Division. and leveraged foreign exchange trading intermediaries. is responsible for conducting market surveillance to identify market misconduct for further investigation.

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