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Australian international markets chief passes baton to Hong Kong

Xinhua, May 20, 2016 Adjust font size:

Hong Kong Securities and Futures Commission (SFC) chief executive Ashley Alder will take over Australia's Greg Medcraft as chairman of International Organization of Securities Commissions (IOSCO).

The IOSCO plays a critical role in setting and implementing international capital markets policy, outgoing Australian chairman Greg Medcraft said in a statement on Friday.

"Policy that affects Australia and that ultimately affects the lives of Australians," Medcraft said.

"That is why I was involved in IOSCO it was important to have an Australian looking out for Australia."

He was also responsible for the strategic direction of IOSCO for 2016 to 2020.

"I congratulate Ashley Alder on his appointment...he is an outstanding regulator and an excellent person."

The IOSCO board acknowledged Medcraft's contribution to the organization as having reinforced its position as the key global reference point for securities markets regulation.

Medcraft is currently the chairman of the Australian Securities and Investment Commission (ASIC). Endit