Hong Kong Securities Regulator Projects Budget Deficit And Proposes New Positions

According to PANews, the Hong Kong Securities and Futures Commission (SFC) has submitted its financial budget proposal for the upcoming fiscal year to the Legislative Council's Financial Affairs Committee. The SFC has updated its deficit forecast for the current fiscal year (2024/25) to HKD 148 million and anticipates a deficit of HKD 238 million for the 2025/26 fiscal year. Additionally, the SFC has proposed the creation of 15 new positions. Of these, eight roles are intended to bolster the regulatory framework for virtual assets, enhance market surveillance, and support enforcement investigations. The remaining seven positions aim to strengthen information technology and institutional support.