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Hong Kong's SFC loses 12% of staff in 2021

Hong Kong’s Securities and Futures Commission (SFC) is facing a staff shortage after it lost 12% of its employees last year. The commission has found it difficult to recruit new hires due to tough quarantine rules, according to reports. SFC chairman Tim Lui said the most serious shortages were in junior professional staffing, which was down 25%. He said that this has been compounded by the limited ability to import talent from outside Hong Kong. This prompted the commission to set aside more money to compete with the private sector and to give a 4.5% pay rise to the current staff. The SFC plans to increase its staff cost by HKD140.5m (USD18m), or a 9.5% year-on-year rise. The SFC aims to increase the total headcount to 1,018 by the end of March 2023.

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