The Hong Kong Securities and Futures Commission has welcomed the Process Review Panel’s 2024-25 annual report, which sets out observations and recommendations following a comprehensive review of 60 completed or discontinued SFC cases. The recommendations are intended to help the SFC optimise regulatory effectiveness while maintaining fairness and orderliness in the financial market. The SFC indicated it will assess the recommendations to support cross-divisional collaboration, cross-agency communication and more streamlined operational procedures; the Process Review Panel is an independent body established in 2000 to review the SFC’s case handling and advise on the adequacy of internal procedures and operational guidelines.