Mr. Tsang spent his secondary school years in La Salle College in Hong Kong and Stuyvesant High School in New York City. He pursued his interest in architecture at the Massachusetts Institute of Technology, and went on to receive a Master Degree in Bilingual Education from Boston State College and a Master Degree in Public Administration from Harvard University's Kennedy School of Government.

Mr. Tsang worked in the Boston Public Schools prior to joining the Hong Kong civil service in November 1982. As a member of the Administrative Service, he served in a number of posts, including Administrative Assistant to the Financial Secretary, Assistant Director-General of Trade and Private Secretary to the Governor.

Mr. Tsang served following reunification in a number of different capacities, including Director General of the London Economic and Trade Office, Commissioner of Customs and Excise, Secretary for Planning and Lands and Permanent Secretary for Housing, Planning and Lands (Planning and Lands).

Mr. Tsang was appointed Secretary for Commerce, Industry and Technology in August 2003, and with the successful conclusion of the World Trade Organization Ministerial Conference in Hong Kong that he chaired in December 2005, he was appointed Director of the Chief Executive's Office in January 2006. He was appointed Financial Secretary in July 2007.

Mr. Tsang is married with two children.

Mr. Alder took the helm of the Securities and Futures Commission as Chief Executive Officer on 1 October 2011.

During his earlier term at the SFC from 2001 to 2004, as Executive Director, Corporate Finance, Mr. Alder worked closely with the Legislative Council on the passage of the Securities and Futures Ordinance. He then oversaw the implementation of the Dual Filing regime and participated in the Government’s Consultation on proposals to enhance the regulation of listings. He also participated actively in formulating various important policy initiatives, including regulation of sponsors and independent financial advisers, the revision of the Listing Rules, and the enhancement of corporate governance standards. In addition, he put forward a change in the prospectus regime with a view to modernising Hong Kong’s public offering regime for shares and debentures.

Prior to rejoining the SFC, Mr. Alder was Head of Asia of the international law firm Herbert Smith LLP in Hong Kong, focusing on equity capital markets as well as mergers and acquisitions, private equity and venture capital. He also handled regulatory and compliance work.

Mr. Alder started his career as a lawyer in London in 1984 and has been practising in Hong Kong for more than 20 years. He attained his Bachelor of Laws degree from the University of London in 1982 and graduated with first-class honours from the University of Cambridge with the Master of Laws degree in 1983.

Mr. Pang graduated from the University of Hong Kong in 1979 and obtained a Master in Management from the Stanford University in 1993. Mr. Pang started his civil service career as an Administrative Officer in 1979 and has served as Assistant Director General of Trade and Assistant Commissioner of Banking before joining the Hong Kong Monetary Authority ("HKMA") in 1994. Mr. Pang joined the HKMA as Executive Director (Banking Policy) in 1994 and was appointed as Executive Director (Monetary Policy and Markets) in 1996. Mr. Pang was seconded to the Hong Kong Mortgage Corporation and assumed the position of the Chief Executive Officer in 1997 till 2004. He was appointed as Deputy Chief Executive of the HKMA in July 2004 and is responsible for international affairs relating to multilateral agencies and central bank co-operation, corporate services and research on issues related to monetary policy and financial markets.

Dr. Au is the CEO of BOCHK Asset Management Limited. Prior to joining the Bank of China Group in 2010, Dr. Au was the CEO of FRM Hong Kong. Previously, he held senior management positions at HSBC Global Asset Management (Hong Kong), GMO and Baring Asset Management.

Dr. Au serves on a number of public committees and tribunals. He was Chairman of the HK Securities Institute from 2006 to 2008 and Chairman of the Hong Kong Investment Funds Association in 2004/2005. In July 2008, Dr. Au was awarded the Medal of Honour (MH) by the Hong Kong SAR Government for his valuable contributions to the securities and asset management industry.

Dr. Au holds a BA in Physics from Oxford University and a PhD in Theoretical Particle Physics from Durham University. He is also a Chartered Financial Analyst and a Fellow of the Hong Kong Securities Institute.

Lise has been with SI for three years, primarily working in a client-facing, cross functional role involving business development and client support, as well as extensive research and writing. She began her career with SI in New York before relocating to Hong Kong in 2010 when the firm opened its offices there. She has helped assist with the development Strategic Insight's global research and consulting efforts in Asia, as the firm continues to support over 250 clients worldwide. Having grown up in Southeast Asia and the US, Lise is a native Thai speaker. She completed her studies at Bryn Mawr College, concentrating in Economics and French & Francophone Studies in the college's BA/MA program.

Isabella Chan is the Director, Sales & Marketing, of Franklin Templeton Investments (Asia) Limited and is responsible for all Hong Kong retail and QDII institutional business in China.

Ms. Chan joined Franklin Templeton Investments in 2000 during which she has held various positions within the firm, including network manager for Emerging markets team and fund treasury management roles for Asia. She is also a member of the Executive Committee of the Hong Kong Investment Funds Association and chairman of the Regulatory Subcommittee.

Ms. Chan has been in the asset management and financial services industry for over 15 years. Prior to joining the Franklin Templeton Investments, Ms. Chan headed the Client Service and Fund Administration team at HSBC Asset Management (HK) Limited.

Ms. Chan holds a Master of Business Administration from Australian Graduate School of Management, University of New South Wales and Sydney University, a Bachelor of Laws (LLB) from University of London, and a Bachelor of Business Administration from Simon Fraser University in Vancouver, British Columbia, Canada.

Kalok Chan is Synergis-Geoffrey YEH Chair Professor of Finance and Head of Finance Department at the HKUST, where he also holds concurrent positions as the Director of the Value Partners Center for Investing and Academic Director of the HKUST-NYU Joint Master in Global Finance program. He is also the Associate Dean (Research and Resource Planning) of HKUST Business School. Professor Chan obtained his Ph.D. in Finance from Ohio State University, and taught at Arizona State University from 1990 to 1997 before joining the HKUST. He is also a CFA charter holder.

Professor Chan has published numerous articles in top-tier finance journals, including Journal of Finance, Journal of Financial Economics, Review of Financial Studies and Journal and Financial Quantitative Analysis. He was a co-editor of the Pacific-Basin Finance Journal from 1997 to 2008. He is currently an associate editor of Emerging Market Review, Finance letters, Journal of Financial Research and Review of Finance.

Professor Chan actively participates in the local profession in Hong Kong. He currently serves as a member in the Risk Management Committee of Hong Kong Exchanges and Clearing Limited, the HKSAR Advisory Committee on Human Resource Development (Financial Services), Committee on Unit Trusts and Committee on Investment-Linked Assurance and Pooled Retirement Funds of Hong Kong SFC, Hang Seng Index Service Limited and FTSE Asia-Pacific Regional Committee. Professor Chan was a panel member of the Hong Kong Research Grants Council from 2004 to 2009.

Kerry Ching joined Fidelity Worldwide Investment as Country Head for Hong Kong in 2008 and is responsible for overseeing Fidelity's business in Hong Kong.

Kerry held various senior positions in Wachovia Global Asset Management and UBS Global Asset Management Hong Kong Limited.

Before UBS, Kerry worked at Invesco, initially overseeing their client relations and investor services before taking over the management of the institutional business for Greater China in 2004. In the same year, she became Chief Executive Officer, responsible for Invesco's business activities in Hong Kong and Singapore. Kerry also worked at the Securities and Futures Commission in Hong Kong where she held the position of Investment Products Manager, before transitioning to the asset management industry.

Kerry is Chairman of the Hong Kong Investment Funds Association. She received a Bachelor degree in Business Administration from The Chinese University of Hong Kong, an MBA from The University of Western Ontario and a Master of Engineering in e-Commerce from The University of Hong Kong. She is also a qualified CFA, a CAIA, a CFP, and a Chartered Accountant of Ontario, Canada.

Lieven Debruyne is Chief Executive of Schroder Investment Management (Hong Kong) and Regional Head of Intermediary Business for Asia.

He started his investment career in 1993 in the United States with MeesPierson Capital Management.

He moved to Hong Kong in 1994 as Asian fund manager and was promoted to Chief Investment Officer in 1998.

In 1999 and 2000, Lieven worked in Paris for the same firm, rebranded as Fortis Investments.

Lieven joined Schroders in London in 2000 as Head of Asian product management and business development.

In 2005, he moved to Hong Kong for the second time and was appointed Head of Intermediary Business for Asia.

Mr. Debruyne holds a Master of Science in Economics, Erasmus University, Rotterdam, The Netherlands.

He is an Adjunct Professor, Faculty of Business Administration, The Chinese University of Hong Kong

Besides a Member of the Executive Committee of The Hong Kong Investment Funds Association, Lieven is also a member of the Financial Services Advisory Committee of The Hong Kong Trade Development Council, and a member of the Corporate Advisory Council of The Hong Kong Securities Institute.

In June, 2009 François joined ALFI, the Association of the Luxembourg Fund Industry where he is now Senior Industry Affairs Advisor, responsible for the leadership and operational management, coordination and supervision of all promotional events that ALFI organizes. He is regularly taking a leadership role in the handling of files on regulatory or industry related topics that are being analyzed in Technical Committees and Forums.

François started his career in the Luxembourg Fund Industry in 1981, when he joined Banque Internationale à Luxembourg, where he held different positions in the Investment Fund Sector.

With the exception of more or less one and a half year, during which he was Head of Business Development with European Fund Administration ("EFA"), François spent his whole career within the Dexia BIL Investment Fund business line where he held various management positions from Head of Account Management, through Head of Fund Accounting, Head of Securities Services to Head of Client Services and Customer Support, position he had in when he left in 2009 RBC Dexia Investor Services S.A., Luxembourg.

Karl J. Paulson Egbert is a registered foreign lawyer in the financial services group of the Hong Kong office. He advises hedge funds, mutual funds, and closed-end investment companies on regulatory, corporate and business matters. He has significant experience in advising Hong Kong and Asian hedge fund managers with respect to fund structures and global fund offerings utilizing various investment styles and strategies. He has also assisted international fund managers and distributors with U.S. legal advice on a wide variety of issues, including fund distribution, shareholder reporting, compliance, private placement and private fund exemptions, and strategic advice in anticipation of U.S. regulatory initiatives.

Mr. Paulson Egbert's recent significant representations include representing an Asian manager in launching a novel hedge fund, a US$385 million initial public offering of a closed-end fund advised by a global asset manager; negotiation of various lines of credit between an Asian fund and international banks; a US$200 million merger between two unaffiliated closed-end funds advised by US asset managers; rights offerings for various listed companies; and various forms of secondary offerings, included a uniquely structured secondary offering for a large shareholder of an Asia-Pacific closed-end fund.

Mr. Paulson Egbert is a graduate of Yale University (B.A., 1996) and the University of Michigan (J.D., 2001).

Clara Fan, Senior Branch Manager of PRIOR agency, has been with Sun Life for over 10 years. When Clara joined Sun Life in 2001, she took up the role of supervisor. With her outstanding performance, she was promoted to Branch Manager in 2003. Together with her strong motivation & management skills, she was further promoted to Senior Branch Manager in 2009. Since 2009, Clara has been focusing on training and recruitment activities. Her team has grown by 80 percent since then. In terms of sales activities, her AFYP and FYC have increased by 44 percent and 21 percent respectively.

In 2003-2004, Clara won the International Quality Award. In 2007, she was being nominated by the Company to compete in the Best Financial Planner Competition and attained a "Certificate of Merit". At the same year, she obtained the "Fellowship of Chartered Financial Practitioner". Clara was also MDRT for 2006, 2008 & 2009. In 2010, she was qualified as Gold Member of the Sun Life's Macaulay Managers' Production Club and Diamond Member of the Persistency Club.

Prior to joining Sun Life, Clara was with Hang Seng Bank from 1995 to 2000, responsible for management training. Her last position in Hang Seng Bank was the Head of the Complaint Section.

Clara holds a bachelor degree in Psychology & a master degree in Management Studies from the University of Auckland.

Eric Fu is HSBC's Head of Business Development, Wealth Management, Retail Banking and Wealth Management, Hong Kong. He has overall responsibility for developing and implementing strategies for wealth management products and services in Hong Kong. Prior to joining HSBC, Eric has over 20 years of business experience and held key management positions in asset and wealth management organizations in Asia Pacific region.

Rory Gallaher is the Head of Deacons' award winning Financial Services Practice Group. Rory has nearly 30 years' experience in financial services law, with particular emphasis on investment funds and securities issues. He advises a substantial number of international fund management groups and institutional trustees and administrators on the establishment of a wide variety of investment products as well as licensing, regulatory and compliance issues.

Rory is a member of the Regulatory Subcommittee of the HKIFA, a member of the Executive Committee of the Hong Kong chapter of the Alternative Investment Management Association ("AIMA") and Chairman of the AIMA Hong Kong Regulatory Committee. Rory is also senior vice chair of the Investment Companies, Funds and Trusts Committee of the International Bar Association and has spoken at many international conferences on investment fund and securities issues.

Jonathan Ha has broad experience managing consulting engagements across various industries, with a specialization in financial services. His clients have included investment management, investment banking, insurance, and real estate firms based in China, Singapore, Australia, US, Canada, and Europe.

Mr. Ha began his career in New York, where he gained a wide breadth of experience consulting in the financial services, telecommunications, and government sectors. During this time, Mr. Ha served as a client facing senior business analyst and engagement manager for projects covering treasury operations, trade reporting, compliance, and corporate policies for various clients. Realizing the direction of the global economy, Mr. Ha relocated to Shanghai, with the objective of leveraging his prior work experience in the rapidly expanding Chinese financial services industry.

Mr. Ha is now Director of Advisory Services at Z-Ben Advisors, a research and consulting firm specializing in the Chinese investment management industry. Mr. Ha received his MBA from the UC Berkeley Haas School of Business, and studied Engineering and Economics at the University of Pennsylvania.

Charles is a tax partner of the KPMG tax practice in Hong Kong. He has over 20 years tax experience, the last 14 years of which have been spent in Hong Kong.

Charles is a member of the Hong Kong firm's banking and financial services tax group and is part of the Foreign Account Tax Compliance Act ("FATCA") advisory team in Hong Kong and has contributed to and presented at several industry seminars/workshops relating to the FATCA regime.

He is a leader in the financial services industry with extensive knowledge and experience in retail and investment banking, securities dealing, funds (including those in the private equity, real estate, alternative investments and infrastructure business) and fund management.

He specialises in all tax issues relating to financial institutions and related companies including: financial products, mergers and acquisitions, tax structured products, setting up, disposal and structuring of funds and similar investment vehicles in Asia.

Charles has led the Hong Kong team working on the US qualified intermediary ("QI") regulations since 1999 and has worked on all of the firm's related projects in Hong Kong commencing with seeking the IRS's approval of the Hong Kong "Know-Your-Customer" ("KYC") rules. He has also presented numerous times on QI issues.

Charles also leads the Hong Kong firm's operational tax team and co-ordinates withholding tax teams across Asia.

His client base includes local and foreign banks and other financial service providers. The areas covered include custody and clearing, asset management, treasury, securities and brokerage services, trustee services and private banking.

Desmond Ng joined Invesco in September 2006 as Head of Institutional Business for Asia ex-Japan. In November 2008, he became Chief Operating Officer, Head of Sales and Marketing, Asia ex-Japan, responsible for institutional and retail client activities throughout the region. In addition, drawing on his extensive experience across various aspects of business in the Asia ex-Japan region, Mr. Ng builds and oversees a common service platform for the region, including marketing, product development and client service activities. Mr. Ng was previously with JF Asset Management Hong Kong, where he held various senior positions in institutional marketing, product and business development.

Mr. Ng has a Bachelor of Arts degree in Business Management and a Master of Business Administration degree from Clark University, Massachusetts, USA. He served as Vice-Chairman of the Executive Committee of the Hong Kong Investment Funds Association for 2008/2009. Mr. Ng was appointed Chairman of the Association for the year 2009/2010 and 2010/2011.

With 25 years of experience in Business Management, Pierre has a recognised experience in delivering Business Optimization, Enterprise Risk Management & Information Management for Fortune 500 organisations.

Prior to joining the firm, Pierre was CEO of an international Enterprise Risk Management organisation, CEO of an international Information Security Assurance organisation, worldwide executive and vice president for two Fortune 500 firms.

Pierre is engaged with several Worldwide financial institutions and assist them to address their FATCA implementations - covering all the operational aspects associated with the regulation.

Pierre helped the Asia Pacific operations of a prominent European Life Insurance by designing and deploying all aspects of their enterprise risk management department to address business and regulatory requirements.

Pierre and his team consulted with a large international financial institution to design and deploy a business analytic system to improve strategic decision process at corporate executives and board level, and at the same time reduce firm's efforts towards producing regulatory compliance reports.

Pierre assisted an international bank and credit card organization to put in place a solution to collect and consolidate incidents on a worldwide basis. The project was very successful and helped the firm to significantly decrease their governance's cost while at the same time giving more accurate visibility to their Operation team.

Pierre worked with the board of a large bank in South East Asia to transform their overall business operation and become the number #5 domestic bank from their initial number #8 ranking.

Pierre is also a Board Member at the Professional Management Risk Association (PRMIA) - Hong Kong Chapter.

Mark Oh is the Head of Tax for BlackRock's Asia Pacific business, based in Hong Kong. Mark's service with the firm dates back to 2007, including his years with Barclays Global Investors ("BGI"), which merged with BlackRock in 2009. At BGI, he was the Director of Tax for BGI Australia, where he had oversight and responsibility of the corporate and product tax functions for BGI. In his current role, Mark has responsibility for all key strategic and tactical tax obligations, including corporate tax, product tax, tax strategies, tax risk management and tax controversy matters throughout the Asia Pacific region.

Prior to joining BlackRock, Mark was the Head of Tax for Wealth Management and Financial Planning at Challenger Financial Services Limited.

Mark holds bachelor degrees in Business and in Laws from the University of Technology, Sydney. He is also admitted as a Solicitor and Barrister of the Supreme Court of New South Wales.

Terry Pan, Managing Director, is Head of Hong Kong Business for J.P. Morgan Asset Management. Before taking up his current position in 2010, Terry spent three years as head of Intermediary Sales, responsible for the distribution of the firm's pooled products via a wide distribution network of retail and private banks, insurance companies and IFAs in Hong Kong and Macau. He first joined the firm in 1994, left for two years, and rejoined in 2003. In 2001 Terry joined Hutchison CSFB direct as sales director and was appointed executive director - sales following Bank of China International's acquisition of the firm. Prior to that he spent seven years with Jardine Fleming, working in several areas, including sales, investment services and project management, before transferring to the firm's then joint venture with PCCW, 2cube Securities, in 2000 where he was vice president - sales. Terry obtained a BA in finance and real estate from Southern Methodist University, Dallas, Texas and an MBA from Royal Holloway, University of London. He is also a holder of the CFA designation.

Wendy Tsang joined Bank of China (Hong Kong) Ltd. in 2008 as Head of Product Management, and is responsible for investment products sales and management for the bank, covering funds, insurance, bonds, and structure products. Wendy is the bank's representatives in Hong Kong Association of Banks ("HKAB") and is currently chairlady of Security Working Committee ("SWG"). Wendy has over 20 years of experience in product and wealth management business, and was previously holding senior positions at American Express Bank, Bear Stearns, and Citibank.

Mr. Glenn Turner is currently Chief Operations Officer for Altruist Financial Group, a leading IFA firm, with 55,000 clients and client retention of 95+% over 24 months. He is also the Chairman of Independent Financial Advisors Association; and General Committee Member of the Hong Kong Confederation of Insurance Brokers including:

• Life & Investment-Linked sub-committee
• Membership & Registration sub-committee
• HealthCare Reform working group
• ILAS Working group
• Independent Insurance Authority working group
• Policy Protection Fund and so on

Mr. Turner joined the life assurance industry in June 1971. He became CEO of a life assurance company in 1997 at age 29. By age 39, Mr. Turner had held CEO positions in 4 life companies in 3 countries, and held regional distribution positions thereafter.

David Weisner is based in Hong Kong and is US Tax Counsel for Asia Pacific for Citigroup. He handles the tax issues for variety of businesses through out Asia Pacific. Prior to joining Citigroup in 2003, David worked at Fidelity Investments in Boston as international tax counsel. Prior to Fidelity Investments, David worked for White & Case, a New York based law firm, and Deloitte & Touche, a big 4 accounting firm.

David is President of the Asia Chapter of the Tax Executive Institute ("TEI"), on the executive committee of the Capital Market Tax Committee ("CMTC"), on the tax committee for the Hong Kong chapter of Alternative Investment Management Association ("AIMA") and leads the FATCA subcommittee for the Hong Kong Association of Banks ("HKAB").

Mr. ZHAN Long is the CEO of Bank of Communications Schroder Fund Management Co., Ltd.

Mr. Zhan has 16 years experience in fund management industry, worked all functional areas in both working level and senior management capacity. Prior to BoCom Schroders, he was Managing Director, Head of China Business, of Fidelity International in years from 2008 to 2010.

Previously, Mr. Zhan had been Country Manager (China) with ING Investment (Asia Pacific) Limited for 8 years. During the period he was designated as Executive Deputy General Manager in China merchants Fund, ING's joint venture in China. Before ING, he held senior positions at Principal Capital management (Asia) Limited and BT Funds Management (Australia) Ltd.

Mr. Zhan holds a Master of Business Administration from Australian Graduate School of Management, Bachelor of Commerce, Accounting and Finance from the University of New South Wales. He is also a CFA charter holder and a Certified Public Accountant.

Yibin Zhang ("Ben") is the joint MD of Haitong international asset management Limited, which launched the first RMB bond fund in the middle of 2010. He obtained Ph.D. in Financial Economics from Duke University and worked at various financial services companies in New York, including Moody's KMV and UBS before relocating back to China. Before Haitong international, Ben worked as head of international business and portfolio manager of a QDII fund for China Merchants Fund in Shenzhen China.

Mr. Ha Michael Cheuk Wah is the Head of Marketing and Client Services of BOCHK Asset Management Limited. He has over 18 years of experience in asset management. Prior to joining the company, Mr. Ha served HSBC Global Asset Management (Hong Kong) Limited for nearly 12 years. Mr. Ha served in the Business Development Department to develop institutional and MPF products and to establish client relationships, and was then transferred to the Institutional Business Department where he was the Director with overall responsibility of MPF business. He also led a team to provide after-sale service to insurance clients. Previously, Mr. Ha worked for AIG Asset Management Company (Asia) Limited as Marketing Manager, and Jardine Fleming Unit Trusts Limited as Business Development Manager and Product Development Manager respectively.

Mr. Ha holds a Bachelor's Degree in Economics and a Bachelor's Degree in Chemistry from the McMaster University, Canada. He is a Certified Financial Planner and a Member of the Hong Kong Securities Institute.