The Hong Kong Securities and Futures Commission's Process Review Committee publishes the report for the 2024-25 fiscal year.

On December 31, the Hong Kong Securities and Futures Commission's Procedures Review Committee (PRC) released its annual report for the year 2024-25, outlining the work of the PRC during that period. The PRC conducted a comprehensive review of 60 cases and presented its observations and recommendations in the report, intervening to ensure that the financial markets in Hong Kong are fair and well-regulated. Established by the Chief Executive of the Hong Kong Special Administrative Region in November 2000, the PRC is an independent committee responsible for reviewing the internal operating procedures and guidelines of the Securities and Futures Commission to ensure fair and consistent operations. The PRC noted that under the current enforcement cooperation mechanism between the Securities and Futures Commission and the China Securities Regulatory Commission, limited resources mean that priority is given to cross-border cases with the potential for significant law enforcement outcomes. The PRC welcomed the efforts of the Securities and Futures Commission in recent years to strengthen cooperation with the China Securities Regulatory Commission and encouraged closer working relationships with mainland authorities to deepen collaboration. Regarding enforcement action strategies, the PRC suggested that the Securities and Futures Commission should take more proactive measures to protect the interests of affected investors, such as applying for freezing orders on any assets of suspected wrongdoers before concluding investigations or completing relevant administrative procedures. A spokesperson for the Hong Kong Financial Services and the Treasury Bureau stated that the PRC conducted a comprehensive review of the internal operating procedures of the Securities and Futures Commission, reviewing areas such as rule enforcement, licensing of intermediaries, regulation of intermediaries, and complaint handling. The PRC made multiple comprehensive and constructive observations and suggestions to help the Securities and Futures Commission exercise regulatory powers fairly and consistently. The Chairperson of the PRC, Anne Kwok, stated that the PRC reviewed a total of 60 completed or closed cases in various work areas of the Securities and Futures Commission for the year 2024-25. The PRC believes that the Securities and Futures Commission has followed internal procedures in handling these cases and provided some observations and suggestions to help improve the Commission's processes and guidelines. The Chief Executive of the Securities and Futures Commission, Ashley Leung, sincerely thanked the PRC for its valuable and constructive suggestions on the Commission's workflow. Leung stated, "Enhancing operational efficiency is a strategic focus of the Securities and Futures Commission and a key factor in strengthening the Commission's institutional capabilities. We will thoroughly evaluate the recommendations to further promote cross-departmental collaboration and inter-institutional communication and drive the Commission's operational projects forward."