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26/8/2024 |
N/A |
Insurance Authority draws public attention on the dire consequences of mishandling or misappropriating premium payments |
|
2/8/2024 |
AIA International Limited (F984) |
Insurance Authority inspection results in enhancements to anti-money laundering controls and processes and fine |
|
1/8/2024 |
N/A |
Insurance Authority imposes a ban on four individuals for making use of false documents in applying for registration as licensed insurance agents |
|
12/7/2024 |
Chan Hung Fei (IF5069) |
Insurance Authority bans Chan Hung Fei from applying for a licence within 34 months due to misappropriation of premium payments |
|
24/6/2024 |
N/A |
Insurance Authority imposes a pecuniary fine of HK$44,270 against a broker company and a technical representative for mishandling of insurance policy under the former self-regulatory regime |
|
31/5/2024 |
N/A |
Bans imposed on two former insurance agents for using false academic certificates under the former self-regulatory regime |
|
20/5/2024 |
N/A |
Insurance Authority bans former insurance agent for 14 years for misappropriating premium |
|
17/4/2024 |
Chiu Kin Fung Jacky (IH6225) |
Insurance Authority suspends Chiu Kin Fung Jacky for ten months for falsifying signatures and impersonation |
|
11/4/2024 |
N/A |
Insurance Authority and ICAC conduct first joint operation against suspected unlicensed selling to Mainland China Visitors |
|
8/4/2024 |
N/A |
Insurance Authority bans former insurance agent for three years for misappropriating premiums |
|
27/3/2024 |
Wong Chung Yiu (IK4422) |
Twelve-month ban imposed on former insurance agent Wong Chung Yiu for witnessing a false signature, falsifying signatures himself and making false declarations |
|
21/3/2024 |
N/A |
Fifteen-month ban imposed on former insurance agent for witnessing a false signature and fabricating a change of beneficiary form |
|
12/3/2024 |
Lam Kwan (IE7950) |
Insurance Authority suspends Lam Kwan for seven months for taking out an insurance policy without the client’s knowledge or consent |
|
4/3/2024 |
N/A |
Insurance Authority imposes prohibition orders on three former insurance agents on fit and proper grounds |
|
11/1/2024 |
Ma Chun Kei (IA5006) |
Insurance Authority bans Ma Chun Kei for 4.5 years for fabricating a certificate of insurance |
|
10/1/2024 |
Cheung Tak On (IC8153) |
Enforcement collaboration between IA and HKMA – Insurance Authority suspends Cheung Tak On for two months and orders a fine of $2,900 for misappropriating gift vouchers |
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22/12/2023 |
Tsang Kwong Chi Samuel (IA6591) |
Insurance Authority suspends Tsang Kwong Chi Samuel for two months and fines him $40,000 for misconduct in relation to the arrangement of an employees’ compensation insurance policy |
|
20/12/2023 |
N/A |
Insurance Authority bans former insurance agent for six years for misappropriating and mishandling premium |
|
22/11/2023 |
N/A |
Insurance Authority bans two former insurance agents for three years for using false academic certificates under the former self-regulatory regime |
|
6/11/2023 |
N/A |
Insurance Authority bans former insurance agent for five years for mishandling and misappropriating premium |
|
15/8/2023 |
Chan Ka Hey (IC5865) |
Enforcement collaboration between IA and HKMA – Insurance Authority bans Chan Ka Hey for six months for fabrication of a client’s direct debit authorization form for premium payment |
|
29/5/2023 |
N/A |
Insurance Authority bans former insurance agent for 18 months for fabricating a client’s instructions and forging the client’s signature |
|
16/5/2023 |
N/A |
Insurance Authority bans former insurance agent for three years for using a false academic transcript under the former self-regulatory regime |
|
30/3/2023 |
Convoy Financial Services Limited (FB1360) and Convoy Financial Solutions Limited (FB1246) |
Insurance Authority reprimands and fines broker companies $190,000 for failure to keep separate client accounts and maintain proper books and records |
|
27/1/2023 |
N/A |
Insurance Authority revokes insurance agent’s licence and imposes 11-month ban for misconduct in handling client’s premium |
|
10/1/2023 |
N/A |
Insurance Authority bans former insurance agent for three years for using two false academic certificates under the former self-regulatory regime |
|
19/12/2022 |
N/A |
Continuing Professional Development (“CPD”) requirements
Disciplinary actions for Combined Assessment Period 2019/21 |
|
27/9/2022 |
N/A |
Insurance Authority bans former insurance agent for two years for using false academic certificate under the self-regulatory regime |
|
29/8/2022 |
Xie Xiaoyan (IJ4735) |
Insurance Authority bans Xie Xiaoyan for three years for using false academic certificates |
|
20/6/2022 |
Ho Man Tat (IA5605) |
Insurance Authority bans Ho Man Tat for 5 months |
|
17/3/2022 |
N/A |
Insurance Authority bans three individuals for up to three years for using false academic certificates when applying to be insurance agents |
|
8/3/2022 |
To Kong (IA4637) |
Insurance Authority bans To Kong until 14 July 2024 |
|
31/1/2022 |
FWD Life (Hong Kong) Limited (formerly known as MetLife Limited) (763696) and
FWD Life Assurance Company (Hong Kong) Limited (formerly known as Metropolitan Life Insurance Company of Hong Kong Limited) (60528) |
Insurance Authority reprimands and imposes $7 million fine for multiple contraventions of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance |
|
10/1/2022 |
N/A |
|
|
22/12/2021 |
N/A |
Insurance Authority fines a broker company and suspends its license for regulatory breaches |
|
7/7/2021 |
Yam Wai Shu (IH1682) |
The Insurance Authority reprimands and bans Yam Wai Shu for 5 months |
|
28/5/2021 |
N/A |
IA takes its first disciplinary actions against two broker companies for regulatory breaches |