Hong Kong Calls on Finance Firms to Return Workers From Abroad
- SFC is rethinking flexibility granted for working overseas
- Hong Kong sees exodus of talent as Covid curbs drag on
The Hong Kong Island skyline.
Photographer: Anthony Wallace/AFP/Getty Images
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Hong Kong’s top market regulator is talking to finance firms to bring back their licensed staff that have been working abroad amid efforts by the city to revive its status as a vibrant business hub.
There’s growing concern at the Securities and Futures Commission over prolonged absences of licensed managers at the investment firms and brokerages it oversees, people familiar with the matter said, asking not to be identified discussing private deliberations. It’s in communications with some firms to urge them to have key personnel return to the city, emphasizing that the flexibility allowed during the pandemic is temporary, the people said.