Martin Lister, a Hong Kong-based partner in Edwards Wildman's Insurance and Reinsurance Department, discussed how Hong Kong will be establishing a new independent super regulator for the insurance industry in Global Reinsurance. In the article, "How Hong Kong is Preparing for its New Super-Regulator
," Lister said, "There will be some discomfort in the industry because these guys have got to do something. They may have 200 employees and 120 of them will be new. Some will come from some of the self-regulatory organisations but there will be a group of externally employed professionals – actuaries, accountants, investigators and lawyers – these are all people who don’t exist in the Insurance Authority at the moment.” Furthermore, Lister added, "They will come in and coalesce into an organisation that has the potential to be quite powerful and effective. And in principle a powerful and effective regulator is not a bad thing, but it is important it does not feel it has to justify its existence."