The Securities and Futures Appeals Tribunal was established on 1 April 2003 under the Securities and Futures Ordinance
The Tribunal is a review body which may review, on application, the merits of a range of regulatory decisions made under the SFO by the Securities and Futures Commission
(SFC), the Hong Kong Monetary Authority and an investor compensation company recognized by the
SFC, and to hear and determine any question or issue arising out of or in connection with any review.
The Tribunal is empowered to make a range of orders under the SFO in relation to its review proceedings.
The Chairman of the Tribunal is appointed by the Chief Executive on the recommendation of the Chief Justice. Currently
four chairmen have been appointed. For the purpose of determining a review, the Chairman shall recommend two members from the appeal panel, which was appointed by the Chief Executive and consists of
25 members, to the Secretary for Financial Services and the Treasury for appointment as ordinary members in relation to the review. Every sitting of the Tribunal must be held in public unless the Tribunal considers, in the interests of justice, that a sitting (or any part of it) should be held in private.