What tribunals and panels are independent of the SFC?

• A. Securities & Futures Appeals Tribunal; Leverage Foreign Exchange Trading Arbitration Panel; Process Review Panel for SFC
• B. Securities & Futures Appeals Tribunal only
• C. Leverage Foreign Exchange Trading Arbitration Panel only
• D. Process Review Panel for SFC only

Answer: (A)

Independence from the SFC means these bodies operate outside the regulator’s control to provide impartial review or adjudication. The Securities & Futures Appeals Tribunal is an external appeals body for SFC decisions, ensuring challenged rulings aren’t decided within the regulator itself. The Leverage Foreign Exchange Trading Arbitration Panel offers a neutral forum for resolving leveraged FX trading disputes, with arbitrators not under SFC direction. The Process Review Panel for SFC checks the regulator’s processes from an independent standpoint to promote fairness and accountability. Because all three function independently of the SFC, they collectively form the correct answer.