  The b --> s nu anti-nu transitions are sensitive probes of new physics (NP)
in the form of non-standard Z penguin effects. They involve four experimentally
accessible observables, among which the inclusive rate of B --> Xs nu anti-nu
is the most theoretically clean, but is challenging to study experimentally.
Theory errors in exclusive rates are dominated by form factors' normalization.
They can be reduced in rate ratios like the K* polarization fractions in B -->
K* nu anti-nu or by studying the ratio Br(B --> K nu anti-nu)/Br(B --> K
l^+l^-). Measurable NP effects in b --> s/d nu anti-nu can be expressed in
terms of two real parameters and are generally correlated with other flavor
observables. Although in principle even in minimal flavor violating scenarios,
NP can still saturate present direct bounds, in many explicit NP models new
effects are already constrained by other B physics observables to be much
smaller. Alternatively, b --> s/d E_miss can receive contributions from
particles other than neutrinos in the final state and strong modifications of
the invariant mass spectra are possible. However, interpretation of such
effects in terms of bounds on interactions of such new particles is nontrivial
when experimental searches employ kinematical cuts or their signal
reconstruction efficiencies depend on expected signal kinematical
distributions.
