About the IFEC

Background

With the rapid pace of innovation and growing sophistication and complexity of retail financial products and services available today, the need for financial education has never been greater. This is where the IEC comes in.

Following the HKSAR Government's public consultation in February 2010 and subsequent amendment of the Securities and Futures Ordinance in May 2012, the Investor Education Centre (IEC) renamed the Investor and Financial Education Council (IFEC), on 17 January 2019, was established in November 2012, as a subsidiary of the Securities and Futures Commission (SFC), to take the lead in improving financial literacy in Hong Kong.


Our Mission

We are a public organisation with the mission of improving financial literacy in Hong Kong. The IFEC is supported by the Education Bureau and all four financial regulators.


Our Work

We believe that financial education should be inclusive, widely accessible and made simple. Our programmes are not only aimed at improving the financial skills and knowledge of the public, but also supports the development of more responsible financial habits, behaviours and decision making.

In April 2016, we launched The Chin Family platform to provide people in Hong Kong with comprehensive, credible and impartial financial information, tools and education resources.

Our work includes:

The IFEC also serves as the HKSFL secretariat which aims to harness the enthusiasm and efforts of various sectors by setting common goals and enabling cross-sectoral collaboration to address financial education needs in Hong Kong.


Our Partners

We work in partnership with government agencies and the finance, education and community sectors to give the general public the knowledge and tools they need for managing money effectively.


Governance

The IFEC is governed by an independent Executive Committee comprising a Chairman who is a Non-Executive Director of the SFC, representatives of the four financial regulators - the SFC, the Hong Kong Monetary Authority, the Mandatory Provident Fund Schemes Authority and the Insurance Authority (previously known as Office of the Commissioner of Insurance) - as well as the Education Bureau and representatives of the financial industry and of and the General Manager of the IFEC. It meets once every three months to provide strategic oversight and advice to the IFEC and approve its policies and decisions.


IFEC Executive Committee Members


Chairman Mr Lester Garson HUANG, JP Non-Executive Director of the SFC
Members AUYEUNG Pak Kuen, Rex Industry Representative
CHENG Yan Chee Mandatory Provident Fund Schemes Authority
CHEUNG Wan Ching Clement Insurance Authority
HO Hon Kit, Daryl Hong Kong Monetary Authority
KNEEBONE, David Phillip General Manager of the IFEC
LAU Man Man, Lisa Industry Representative
NG Ka Shing Education Bureau
WAN Chi Yiu, Andrew Securities and Futures Commission

Stakeholder collaboration

Advisory Committee and Groups


We have set up an Advisory Committee and a number of Advisory Groups to seek the advice and expertise of community representatives in formulating our financial education initiatives and to identify opportunities for collaboration.


IFEC Advisory Committee Members


Chairperson KNEEBONE, David Phillip General Manager of the IFEC
Members NG Ka Man, Carmen Consumer Council
Ng Tsz Wai, Anthony Financial Disputes Resolution Centre
YAU Kin Hung Hong Kong Police Force

Advisory Group: Financial Education for School Children
Convenor Li, Dora The Hong Kong Shanghai Banking Corporation Limited
Members FONG Wayne Citibank HK
Dr HO Yuk Fan Esther Hong Kong Association of Careers Masters and Guidance Masters
HSIAO Chun Mo Moses Ning Po No.2 College
KONG Siu Cheuk Edward Education Bureau
KWOK Chi Kay, Peter Hong Kong Sheng Kung Hui
KWOK Chiu Kwan Henry Hong Kong Aided Primary School Heads Association
Dr LAM Wai Lim William Education Bureau
LIN Chun Pong HK Association of the Heads of Secondary Schools
POON Tak Cheong, Raymond Committee on Home-School Co-operation
SIN Anthony Hong Kong Family Welfare Society
Ex-officio member YIP Damian Investor and Financial Education Council
Secretary LAM Kit Yung, Stefan Investor and Financial Education Council

Advisory Group: Financial Education for Tertiary Students
Convenor NG Wai Cheong Artie The Hong Kong Polytechnic University, School of Professional Education and Executive Development
Members CHAN Fuk Lung Tung Wah Group of Hospitals Healthy Budgeting Family Debt Counselling Centre
Dr CHAN Yiu Kong HKU School of Professional and Continuing Education
HO Ka Man Visa Hong Kong Limited
HUI, Vincent The Bank of East Asia, Limited
LAI Leung Ho Niki St. James’ Settlement
Dr LAM Po Yan, Pamela Li Ka Shing Institute of Professional and Continuing Education, The Open University of Hong Kong
Dr LAM Wai Leung The Hong Kong University of Science and Technology
Dr LAM Wai Keung Vocational Training Council
LAU Pui Ling Selina The Hong Kong Federation of Insurers
LEE Siu Po The Chinese University of Hong Kong
YEUNG Nga Yuk Working Family and Student Financial Assistance Agency
Ex-officio member YIP Damian Investor and Financial Education Council
Secretary YAU Kwan Pang Investor and Financial Education Council

Advisory Group: Financial Education for Working Adults
Convenor CHING Pui Yuk The Women’s Foundation
Members CHAN Yiu Lun, Alan Hong Kong Family Welfare Society
CHAN Florence Mandatory Provident Fund Schemes Authority
CHOW Florence Lai Sim Employers’ Federation of Hong Kong
Dr LAW Ming Fai, Ben The University of Hong Kong
LEE Ming Gin Institute of Financial Planners of Hong Kong
LEE Oi Yen Construction Industry Council
LI Tin Kei, Dave Hong Kong Institute of Human Resource Management
Dr SIU Mei Fung Gain Miles Group
WONG Sau Yee The Hong Kong Federation of Youth Groups
WONG Yuk Ping Insurance Authority
YUNG Lai Ping Caritas Family Crisis Support Centre - Debt and Financial Capability Service
Ex-officio member YIP Damian Investor and Financial Education Council
Secretary LAU Wing Kam, Vicky Investor and Financial Education Council

Advisory Group: Financial Education for Retirees
Convenor CHAN Man Yee, Grace The Hong Kong Council of Social Service
Members CHAN How-chi Committee on Elder Academy Development Foundation
Dr CHAN Mou Fung Noble Apex Advisors Limited
HO Chung Yan David -
HO Kam-yee, Michael Senior Police Call and Elderly Engagement Section, Police Public Relations Branch, Hong Kong Police Force
HO Mei Yee The Salvation Army
Prof. LAI Daniel Wing-Leung Institute of Active Ageing, The Hong Kong Polytechnic University
LAU Ka Shi BCT Group (BCT Financial Ltd. / Bank Consortium Trust Company)
LEUNG Sze Wan, Angela The Hong Kong Mortgage Corporation Limited
LIM Ka Yuk, Paul Hang Seng Bank
WONG Lai Choi Hong Kong Sheng Kung Hui Welfare Council Limited
YEUNG Ming Yin, Ryan Happy-Retired Company Limited
Ex-officio member YIP Damian Investor and Financial Education Council
Secretary CHOI Suk Mun, Anny Investor and Financial Education Council

Transparency and Accountability

Transparency, accountability and integrity are key principles our work. We continually assess and evaluate the impact of our financial education initiatives, including consumer acceptance of new education resources and pilot testing of education programmes. We conduct research studies to better understand our prioritised target segments so as to deliver education programmes in a more efficient and effective manner.



Last update: 15 February 2019