The Securities & Futures Commission's Process Review Panel has reviewed 40 completed cases and found the SFC has adhered to internal procedures in its decisions and actions, panel chairman Anthony Chow says.

The panel today published its sixth annual report covering its work in 2006. Mr Chow said the panel has identified areas with room for improvement.

It has also considered the industry's views on the commission's procedures to identify areas for improvement, and referred the industry's comments to the SFC for consideration.

Financial Secretary John Tsang welcomed the report and thanked the panel for making invaluable contributions to enhancing the quality of the regulation of Hong Kong's securities and futures market.