VII. MPF Intermediaries 強積金中介人

The statutory regulatory regime for MPF intermediaries took effect on 1 November 2012 to strengthen protection for scheme members. MPFA handles registration, compliance guidelines and disciplinary sanctions, while three frontline regulators supervise and investigate intermediaries according to their core business.

Under the statutory framework for MPF intermediaries, the MPFA handles registration and disciplinary sanctions, while frontline regulators supervise and investigate. Candidates must understand the scope of regulated activities, registration and ongoing duties, and the rules on disciplinary procedures, appeals and public disclosure.

Prohibition against Carrying on Regulated Activities etc. · Registration Requirements for MPF Intermediaries · Regulatory Scope of Frontline Regulators · Conduct Requirements for Registered Intermediaries · Other Requirements for Registered Intermediaries · Supervisory and Disciplinary Powers of MPFA and FRs · Appeal Mechanism for Decisions on Registration and Disciplinary Sanctions · Public Disclosure of Disciplinary Decisions Made against Registered Intermediaries

MPFA receives and initially processes complaints about MPF sales and marketing activities, referring possible breaches of conduct requirements to the relevant frontline regulators to consider investigation. In misconduct cases, MPFA alone imposes disciplinary sanctions, taking account of the investigation information and the intermediaries’ representations.

The Conduct Guidelines connect statutory performance requirements with the minimum conduct standards expected in MPF sales, marketing and advice. Acts or omissions need not appear in the Guidelines to constitute a breach of those requirements.

Guidelines on Conduct Requirements for Registered Intermediaries (Conduct Guidelines)

Misconduct by an MPF intermediary may lead to internal sanctions under the contract with the principal and statutory penalties. Candidates should distinguish the rules, exceptions and maximum penalties for unauthorised public advertisements and fraudulent or reckless misrepresentations.