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FS welcomes publication of annual report of Process Review Panel for SFC

     The Financial Secretary, Mr John C Tsang, today (October 25) welcomed the publication of the annual report of the Process Review Panel (PRP) for the Securities and Futures Commission (SFC) which covers the work of the PRP in 2012-13.

     "The PRP has conducted a comprehensive review of the SFC's internal processes and procedures through selected cases in the past year. In its annual report, the PRP has made observations and recommendations which are conducive to the fair and consistent exercise of regulatory powers by the SFC. The work of the PRP has contributed to enhancing the transparency and accountability of the SFC," Mr Tsang said.

     "I thank the Chairman, Dr Moses Cheng, and members of the PRP for their valuable contribution in the past year," Mr Tsang added.

     "I am glad to note that following the PRP's findings, the SFC has undertaken to streamline workflow, review current performance pledges and enhance communication with clients," he said.

     The PRP is an independent panel established by the Chief Executive to review the internal operational procedures of the SFC and to determine whether the SFC has followed its internal procedures for ensuring consistency and fairness. It is chaired by Dr Cheng and currently comprises Mr Clement Chan; Ms Chow Yuen-yee; Professor Richard Ho; Dr Hu Zhanghong; Dr Cynthia Lam; Mr Robert Lee; Ms Rosita Lee; Dr Priscilla Leung; Mr Alfred Mak; the Chairman of the SFC, Mr Carlson Tong; and a representative of the Secretary for Justice, Mr Benedict Lai.

Ends/Friday, October 25, 2013
Issued at HKT 17:10


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