The Securities & Futures Commission has welcomed operational improvements implemented by Hong Kong Exchanges & Clearing in the past year.

Releasing its annual review of HKEx's performance today the commission said the body's operational procedures and decision-making processes were appropriate and maintained an orderly, informed and fair market in 2006.

It said the body has sought to improve transparency by publishing its listing decisions, guidelines, frequently-asked-questions to some of its new initiatives, letters to listed companies, and staff interpretation on its website.

HKEx has improved the transparency of its approach in disciplinary actions and the average time for its enforcement department to complete investigations.

The Financial Services & the Treasury Bureau welcomed the report saying the review shows the concerted and continuous effort by the commission and HKEx to enhance Hong Kong's securities market regulatory regime.

For more on the report click here.