About the IFEC

Established in 2012 and supported by the Education Bureau and four financial regulators, the Investor and Financial Education Council (IFEC) is an organisation dedicated to improving financial literacy in Hong Kong.

The IFEC manages an independent and impartial financial education platform, The Chin Family, which provides free information, resources and programmes to help people in Hong Kong plan and manage their finances.

The IFEC was formerly known as the Investor Education Centre. The renaming, since 17 January 2019, reflects the commitment of the Council to provide comprehensive education on a wide range of money matters to help and empower the people of Hong Kong to make informed financial decisions.

 

Background

Financial literacy is a core life skill. With the changing socio-economic structure, the rapid pace of digitalisation and introduction of increasingly complex financial products and services, the need for financial education has never been greater.

The Investor and Financial Education Council (IFEC) is tasked with the role of leading and providing financial education to various segments of the Hong Kong population. Following the HKSAR Government's public consultation in February 2010 and the subsequent amendment of the Securities and Futures Ordinance in May 2012, the Investor Education Centre (IEC), now known as the Investor and Financial Education Council (IFEC), was established in November 2012 as a subsidiary of the Securities and Futures Commission (SFC). The IFEC is supported by Hong Kong’s four financial regulators and the Education Bureau.


Our Mission

The IFEC is a public organisation whose mission is to equip the public with the knowledge, attitudes and skills to make informed financial decisions to manage their money wisely.


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, organise free public seminars, and address the specific financial education needs of our target audiences.

Our work includes:

The IFEC owns the Financial Literacy Strategy which aims to create a conducive environment for various stakeholders to deliver high quality financial education that addresses the needs of Hong Kong’s general public.


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 to make informed and sound financial decisions.


Governance

To oversee the work of the IFEC, an independent Board of Directors has been set up comprising the Chairman, who is a non-executive director of the SFC, and representatives from the four financial regulators – the Hong Kong Monetary Authority, the Insurance Authority, the Mandatory Provident Fund Schemes Authority and the SFC. It also includes representatives from the education and finance sectors, as well as the General Manager of the IFEC. The Board meets every three months to provide strategic oversight and advice to the IFEC and approves its policies and decisions.


Board of Directors


Chairman Mr Lester Garson HUANG, SBS, JP Non-Executive Director of the SFC
Members AUYEUNG Pak Kuen, Rex Industry Representative
CHEUNG Wan Ching, Clement Insurance Authority
HO Fu Ho, Jonathan Mandatory Provident Fund Schemes Authority
KNEEBONE, David Phillip General Manager of the IFEC
LAU Man Man, Lisa Industry Representative
LEUNG Sze Ho, Louis University Grants Committee (UGC) Secretariat
SO Ka Pik, Linda Hong Kong Monetary Authority
WAN Chi Yiu, Andrew Securities and Futures Commission

Stakeholder collaboration

Financial Education Coordination Committee

Organisations that are actively engaged in financial education support the work of the Financial Literacy Strategy through this committee by aligning their organisations' financial education directions with the strategy, assisting in the delivery of core actions of the strategy where possible, and helping identify financial literacy issues.

 

Chairperson Investor and Financial Education Council AUYEUNG Pak Kuen, Rex Board member
Member organisations CFA Institute-The Hong Kong Society of Financial Analysts POLLARD, Nick Managing Director, Asia Pacific, CFA Institute
LEUNG, Mary Head, Advocacy, Asia Pacific, CFA Institute
CHUNG Ka Fai, Franki President, The Hong Kong Society of Financial Analysts
Citi NG Yin Yee, Angel Chief Executive Officer, Hong Kong & Macau
FONG Wai, Wayne Head of Corporate Affairs
Consumer Council WONG Fung Han, Gilly Chief Executive
NG Ka Man, Carmen Head, Consumer Education Division
Hong Kong Family Welfare Society YIP Yun Wan, Amarantha Executive Director
CHAN Wai Mun Manager, Financial Education Centre
Hong Kong Federation of Insurers HUI Kam Hwai Deputy Chairman
LEUNG Mai Ki Senior Manager – Communications and Committee
Hong Kong Monetary Authority SO Ka Pik, Linda Executive Director (Corporate Services)
LI Chun Kit, Patrick Senior Manager (Education & Publicity)
Hong Kong Police Force WONG Chi kwong Chief Superintendent, Commercial Crime Bureau
CHAN Ching Sum, Kattie Chief Inspector, Anti-Deception Coordinate Centre, Commercial Crime Bureau
HO Kam Yee, Michael Chief Inspector, Senior Police Call, Police Public Relations Branch
Insurance Authority CHEUNG Wan Ching, Clement Chief Executive Officer
WONG Yuk Ping Senior Manager, Market Conduct Division
Mandatory Provident Fund Schemes Authority CHENG Yan chee Chief Corporate Affairs Officer and Executive Director
HO Fu Ho, Jonathan Director (External Affairs)
Securities and Futures Commission ALDER, Ashley Chief Executive Officer
KNEEBONE, David Phillip General Manager, Investor and Financial Education Council
The Hongkong and Shanghai Banking Corporation Limited CESAR, Diana Group General Manager, Chief Executive Hong Kong
LI, Dora Head of Future Skills, Corporate Sustainability, Asia Pacific Region
The Hong Kong Mortgage Corporation Limited LI Ling Cheung, Raymond Executive Director and Chief Executive Officer
LEUNG Sze Wan, Angela Vice President, Marketing and Business Development
Visa Hong Kong Limited STEINEBACH, Maaike General Manager, Hong Kong and Macau
TSUI Ki Nan Head of Corporate Communications – Hong Kong, Macau and Taiwan
Tung Wah Group of Hospitals SU Yau On, Albert Chief Executive
CHAN Fuk Lung Supervisor, Healthy Budgeting Family Debt Counselling Centre
Secretary Investor and Financial Education Council YIP, Damian Head of Marketing and Programmes

Sponsor representative / Coordinator representative

Advisory Groups

We have set up 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.
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 Dr 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 Manulife (International) 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 Keung, Wallace Vocational Training Council
Dr LAM Wai Leung The Hong Kong University of Science and Technology
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 Yuen Ling Mandatory Provident Fund Schemes Authority
CHOW Lai Sim, Florence Employers’ Federation 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, Gloria 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 Police Public Relations Branch, Hong Kong Police Force
HO Mei Yee The Salvation Army
Prof. LAI Wing-Leung, Daniel 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: 27 February 2020