The late David Webb, a prominent corporate governance activist, exemplified how transparency bolsters Hong Kong's governance via his website Webb-site.com. His efforts exposed suspected corporate wrongdoings, prompting regulatory actions and enhancing market efficiency. Webb's work highlighted the city's dedication to the rule of law.
David Webb, a corporate governance activist who loved Hong Kong, conducted splendid work enabled by the city's unique characteristics, which may have few parallels in the Asia-Pacific region. He was concerned about Hong Kong's future direction amid fresh challenges from various quarters.
The existence and magic of Webb-site.com, the public database he established, reflect some of Hong Kong's strengths. He obtained and collated much information from publicly available sources, spending many hours extracting and presenting it in a more user-friendly form.
After he published his reports on suspected corporate wrongdoings, they could be publicly reported and, when they came to the attention of the Securities and Futures Commission or law enforcement agencies, action would be taken. It did not matter who was responsible; no one was above the law. This is the meaning of equality before the law.
Ultimately, this resulted in better corporate governance, more efficient markets, and a fairer society. Webb's website reported on suspicious corporate wrongdoings under an open system that improved the city's governance and exercise of the rule of law.