Registered MPF Intermediaries

The Insurance Authority (“IA”) as the frontline regulator of registered MPF intermediaries who carry on MPF sales and marketing activities as incidental to their main line of business in insurance, and are regulatees of the IA, is empowered to investigate suspected non-compliance with the performance requirements by existing or former principal intermediary, subsidiary intermediary and responsible officer of the principal intermediary under section 34ZU of the Mandatory Provident Fund Schemes Ordinance (Cap. 485) (“MPFSO”).

If the IA has reasonable cause to believe that the registered MPF intermediaries may have failed to comply with the performance requirements as defined under section 34E of the MPFSO, the IA may initiate an investigation under section 34ZT or 34ZV of the MPFSO.

All the information obtained from the investigation including the explanation of the intermediaries concerned would be disclosed to the Mandatory Provident Fund Schemes Authority to determine whether a disciplinary order (i.e. reprimand, pecuniary penalty, suspension of registration, revocation of registration, and/or disqualification of registration) is justified.