Events listed in Mandatory Provident Fund Schemes Ordinance
Filing Form for Notice of Scheme Change(s) falling within 8.2B of the SFC Code on ...
ID 26531
The Securities and Futures Commission of Hong Kong, SFC, has published a revised filing form in connection with modifications to the offering document of a Pooled Retirement Fund (PRF). The filing of the form is required, if changes occur in the offering document that are minor in nature and do not change the basic content and format of such (no prior approval is required) ...
Handling of Applications for Early Withdrawal of Accrued Benefits on Grounds of ...
ID 26523
Terence Chan, the Sr. Manager of the Supervision Division of the MPFA, has issued a circular addressed at all registered intermediaries expressing his concern resulting from a rise in subsidiary intermediaries‘ assistance in submitting false claims for the members‘ early withdrawal from their MPF accrued benefits on the grounds of permanent departure from HK recently. In this circular, the manager stresses that this is ...
Strengthen the Measures to Guard Against Fraudulent Activities
ID 26507
The Mandatory Provident Fund Schemes Authority, MPFA has issued a circular addressed at Mandatory Provident Fund (MPF) trustees to remind them of the crucial role they play in safeguarding the MPF system against fraudulent activities. In it, the MPFA emphasizes the evolving nature of fraud in the MPF system and the imperative for trustees to continually enhance their protective measures in relation to unauthorized ...
eMPF Platform – Bringing new opportunities to MPF intermediaries
ID 26049
The Mandatory Provident Fund Schemes Authority (MPFA) has issued a press statement in which it informs of a recent webinar held on December 4, 2023 addressed at mandatory provident fund (MPF) intermediaries. In it, Mr. Anthony Chiu, General Counsel of the MPFA, outlined the objectives, recent developments, and forthcoming opportunities introduced by the eMPF Platform. He specifically emphasized the platform’s role in providing a ...
MPFA actively encourages the use of ETFs in MPF
ID 25880
The Mandatory Provident Fund Schemes Authority (MPFA) has published a statement in which it informs of a recent speech held by Mr. Eric Cheng, Director of Policy at the Mandatory Provident Fund Schemes Authority (MPFA) as part of an event initiated by the Hong Kong Exchanges and Clearing Limited (HKEX) on „The Future of ETFs in MPF’s Portfolios“. In this speech, Mr. Cheng emphasized ...
MPFA Blog – MPFA continues to drive fee reduction
ID 25548
The Mandatory Provident Fund Schemes Authority (MPFA) has published a blog recently written by MPFA Chairman Mrs. Ayesha Macpherson Lau as regards fees in mandatory provident funds (MPFs) and future expectations in this context. In it, the Chairman emphasizes that the MPFA has successfully driven a significant reduction in fees over the past one and a half decades, with the average fund expense ratio ...
MPFA expresses concerns over services provided by MPF intermediaries
ID 25461
The Mandatory Provident Fund Authority (MPFA) has issued a press statement in which it expresses concerns about the services provided by MPF intermediaries and announces several upcoming measures to ensure the protection of scheme members‘ interests. These measures include the following: (1) Strengthening enforcement: The MPFA is deeply concerned about misconduct involving activities such as unauthorized transfers of scheme members‘ MPF benefits, forging scheme .. ...
MPFA Chairman calls on MPF trustees to continually support initiatives for ...
ID 25216
On October 4, 2023, the Mandatory Provident Fund Schemes Authority (MPFA) published a press release to inform that on September 28, 2023, MPFA Chairman Mrs. Ayesha Macpherson Lau and senior MPFA management met with the chairmen and board members of all MPF trustees. During the meeting, she outlined four major goals of the MPFA to improve the MPF system and urged trustees to work ...
Revised Guidelines on Conduct Requirements for Registered Intermediaries
ID 25199
The Mandatory Provident Fund Schemes Authority (MPFA) has published a new circular in which it informs of revisions to its Guidelines on Conduct Requirements for Registered Intermediaries (RIs) which will come into force on March 1, 2024. Specifically, the MPFA has recently reviewed those guidelines, particularly the disclosures that intermediaries must make to clients in the sales process with a view on preventing conflicts ...
Revised Guidelines VI.4 on Continuing Training for Subsidiary Intermediaries (CPD ...
ID 24603
On August 9, 2023, the Mandatory Provident Fund Schemes Authority, MPFA, published a circular (SU/CCO/2023/003) addressed at subsidiary intermediaries (SIs) as regards their Continuing Professional Development (CPD) (training) requirements. Specifically, the MPFA informs that it has issued a revised version of its Guidelines on Continuing Training for Subsidiary Intermediaries which will be effective on January 1, 2024. The revisions are aimed at enhancing the ...