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Appointments to Resolvability Review Tribunal and Resolution Compensation Tribunal
     The Chief Executive has appointed Mr Anson Wong Man-kit, SC, as the chairperson of the Resolvability Review Tribunal (RRT) and the Resolution Compensation Tribunal (RCT) for a term of three years, and panel members to the RRT and the RCT for a term of two years. The appointments will take effect from April 1, 2018.
     The RRT and the RCT are statutory tribunals established under the Financial Institutions (Resolution) Ordinance (Cap. 628) to hear appeals from persons aggrieved by the specified decisions of the resolution authorities and independent valuer made under the Ordinance.
     Announcing the appointments today (March 23), a Government spokesman said, "The establishment of the RRT and the RCT strengthens the appellate mechanism under the resolution regime. It will be an effective safeguard to ensure that the relevant decisions made by the resolution authorities and the independent valuer are reasonable and fair."
     The spokesman added, "Mr Wong, with rich experience in handling appeal cases in other tribunals and a broad range of civil and commercial practice, would contribute to the effective operation of the RRT and the RCT. Members of the RRT and the RCT come from different lines of business within the financial services sector. With diverse backgrounds, they will provide wise counsel on the work of the RRT and the RCT."
     The Ordinance commenced operation on July 7, 2017. Under the Ordinance, the Monetary Authority, the Insurance Authority and the Securities and Futures Commission are the resolution authorities vested with a range of necessary powers to effect orderly resolution of non-viable systematically important financial institutions in Hong Kong such that risks posed by the non-viability of these financial institutions to the stability and effective operation of the Hong Kong financial system, including the continuity of critical financial services, can be mitigated. This is also to minimise risks posed to public funds as losses are imposed on the institution's shareholders and creditors.
     Following are the lists of members of the RRT and RCT panels:
Mr Vincent Chan Chun-hung
Mr Chan Kam-hon
Ms Florence Chan Yuen-shan
Ms Winnie Cheung Chi-woon
Mr Louis Chow Ka-leung
Ms Loretta Fong Wan-huen
Mr Eugène Goyne
Mr Edward Ho Man-tat
Dr Hu Zhanghong
Dr Angela Ng Lai-ping
Mr Jeremy Robert Porter
Ms Sabita Prakash
Ms Winnie Wong Chi-shun
Mr Patrick Wu Yung-wei
Dr Yuen Wai-kee
Dr Paul Yung Pui-yip
Mr David John Alexander
Ms Annie Chan Wai-hing
Mr Anthony Chiu Ling-cheong
Dr Abril Choy Fung-peng
Mr Michael Fung Lik-yeung
Ms Samantha Ho Shuk-yee
Mr David John Kidd
Mr Peter Kung
Ms Josephine Kwan Wai-tuen
Mr Henry Stephen Lai Hin-wing
Ms Angela Leung Wai-tuen
Dr Gladie Lui Man-ching
Mr John Martin Maguire
Dr Kelvin Mak Po-lung
Mr Timothy Keith Pogson
Mr Rupert James Purser
Mr Roy Tsang Chi-wai
Mr Costa Tzatzakis
Ms Maura Wong Hung-hung
Ms Yang Qiumei
Ends/Friday, March 23, 2018
Issued at HKT 11:30
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