As a regulator and a non-listed organisation, the Securities and Futures Commission's (SFC) annual report aims to record the body's work and achievements during the past year, and explain in plain language its roles and functions in helping to regulate Hong Kong's financial markets.
Using the theme 'maintaining balance' secured the SFC the Gold Award in the 2010 HKMA Best Annual Reports Awards in the Non-profit Making and Charitable Organisations Category.
Ivy Lai, the SFC's director of external relations, says the body aims to highlight its prudent approach to fine-tuning the regulatory regime despite a clamour to impose drastic controls following the global financial crisis. 'The SFC has been mindful of the importance of maintaining a delicate balance so that reforms would help rebuild industry credibility and market confidence,' Lai says. 'The goal is to make sure that Hong Kong maintains a fair financial market for all stakeholders.'
The SFC says using 'gymnastics' to illustrate 'maintaining balance', is exciting and demonstrates the combination of physical strengths, co-ordination, skill and flexibility required to maintain balance. Throughout the report, gymnastic routines are used to illustrate how the SFC strikes a balance so that market orderliness is not compromised by industry development. Balance needs to be maintained to ensure the interests of investors and industry participants are well served.
The SFC says since regulatory work is by nature technical, it is challenging to present ideas in a meaningful, logical and easy-to-understand way. This is why the financial regulator strives to present ideas in plain English and Chinese without compromising accuracy.
Lai says effort is made each year to produce a different annual report to reflect the changing regulatory environment and developments in the financial markets the SFC regulates. Emphasis is placed on explaining concepts. Two years ago the SFC began using graphics to help readers visualise complex ideas. The report entered in this year's awards programme took the concept a step further by adopting visual design to convey the roles and functions of the SFC as a regulator.