Appointments to Process Review Panel for Securities and Futures Commission
**************************************************************************
The new members are Mr Frederick Tsang Sui-cheong and Mr Chester Kwok Tun-ho. Dr Moses Cheng Mo-chi has been re-appointed as the Chairman of the PRP, while Mr Clement Chan Kam-wing, Ms Ding Chen, Dr Hu Zhanghong, Ms Rosita Lee Pui-shan, Mr Robert Lee Wai-wang and Ms Nicole Yuen Shuk-kam have been re-appointed as members of the PRP.
"We are grateful for the time and effort that the Chairman and members of the panel have devoted over the past years to review and advise the SFC on the adequacy of its internal procedures and operational guidelines," a government spokesman said.
"With their background and experience in the financial services area, we are confident that the two new members will contribute to the work of the panel.
"We would also like to express our gratitude to the outgoing members, Ms Chow Yuen-yee, Professor Richard Ho Yan-ki, Dr Cynthia Lam Kit-lan and Mr Alfred Mak Chi-ming, for their invaluable contribution and dedication to the panel."
The PRP is an independent panel established by the Chief Executive in November 2000 to review the internal operational procedures of the SFC and determine whether the SFC has followed its internal procedures, including those for ensuring consistency and fairness. The work of the PRP contributes to the objective of ensuring that the SFC exercises its regulatory power in a fair and consistent manner. The membership of the PRP represents a good mix of knowledge, experience and expertise from relevant quarters, which is conducive to the effective operation of the panel.
The work of the PRP does not cover issues relating to the SFC's regulatory decisions and actions, as there are existing avenues for this purpose. These include appeals to the Securities and Futures Appeals Tribunal and judicial review.
In addition to advising the SFC on its operational procedures, the PRP submits to the Financial Secretary and publishes annual reports on its review and the observations and recommendations made regarding the SFC's internal processes and procedures.
The following is the new membership list of the PRP with effect from November 1, 2016:
Chairman
----------
Dr Moses Cheng Mo-chi
Members
---------
Mr Clement Chan Kam-wing
Ms Lena Chan
Ms Ding Chen
Dr Hu Zhanghong
Mr Chester Kwok Tun-ho
Mr Robert Lee Wai-wang
Ms Rosita Lee Pui-shan
Dr Billy Mak Sui-choi
Mr Frederick Tsang Sui-cheong
Ms Nicole Yuen Shuk-kam
Ex-officio Members
--------------------
Mr Carlson Tong
(in the capacity as the Chairman of the SFC)
Ms Christina Cheung Kam-wai, Law Officer (Civil Law), Department of Justice
(in the capacity as the representative of the Secretary for Justice)
Ends/Monday, October 31, 2016
Issued at HKT 17:30
Issued at HKT 17:30
NNNN