Hong Kong's Securities and Futures Commission has appointed Maureen Garrett, its deputy chief counsel, as its temporary head of enforcement while searching for a permanent appointment.

Her predecessor, Mark Steward, leaves his job in a few days to take up a similar position at the UK's Financial Conduct Authority. His appointment might turn out to be the wisest thing that Martin Wheatley, the outgoing FCA chief, has done in his current job. Rumour has it that Wheatley had to offer Steward a princely sum to secure his services.

Ms Garrett joined the Legal Services Division of the SFC in 1999. She has long led the SFC’s enforcement litigation effort in Hong Kong’s courts and tribunals and in that capacity has worked closely with the enforcement division over many years.