The financial services convergence, globalization, and growth of financial conglomerates have provided impetus for financial regulators to share and exchange information. To enhance cross-border and cross-sectoral supervisory cooperation, the Insurance Authority(“IA”) or the Office of the Commissioner of Insurance under the pre-amended Insurance Companies Ordinance (the “former authority”) has signed separate Memorandum of Understanding (“MoU”) with different overseas and local financial services regulators. The MoU seeks to provide an effective framework of cooperation, including channels for communication, mutual understanding, exchange of information and investigative assistance, between the signatory regulators.
Pursuant to the savings provisions of the Insurance Companies (Amendment) Ordinance 2015, the MoUs signed by the former authority continue to have effect after 26 June 2017.
List of MoUs signed:
| Date | Counter-party | Title |
|---|---|---|
| Regulatory Bodies Outside Hong Kong | ||
| 1 Sep 2021 | China Banking and Insurance Regulatory Commission |
MoU on Fintech Co-operation Please click here for the Press Release |
| 1 Sep 2021 | Monetary Authority of Macao |
MoU on Fintech Co-operation Please click here for the Press Release |
| 12 Dec 2018 | Office of Insurance Commission of Thailand |
Memorandum of Understanding Please click here for the Press Release |
| 16 Mar 2018 |
Gibraltar Financial Services Commission
|
Fintech Co-operation Agreement Please click here for the Press Release |
|
7 Dec 2017 |
Dubai Financial Services Authority |
Fintech Co-operation Agreement Please click here for the Press Release |
| 21 Sep 2017 | Financial Conduct Authority, the United Kingdom |
Fintech Co-operation Agreement Please click here for the Press Release |
| 16 May 2017 | China Insurance Regulatory Commission |
Equivalence Assessment Framework Agreement on Solvency Regulatory Regime Please click here for the Press Release |
| 18 Dec 2014 | China Insurance Regulatory Commission and Monetary Authority of Macao |
Trilateral Cooperative Agreement on Anti-insurance Fraud Please click here for the Press Release |
| 6 Jun 2012 | International Association of Insurance Supervisors |
Multilateral Memorandum of Understanding IAIS MMOU |
| 23 Aug 2011 | Central Bank of Ireland | MOU |
| 15 Oct 2008 | The Federal Financial Supervisory Authority (BaFin), Germany | MOU |
| 9 Feb 2007 | Australian Prudential Regulation Authority | MOU |
| 8 Feb 2007 | Isle of Man Financial Services Authority (formerly known as Isle of Man Insurance and Pensions Authority) | MOU |
| 1 Jun 2006 | National Association of Insurance Commissioners | MOU |
| 29 May 2006 | Office of the Superintendent of Financial Institutions, Canada | MOU |
| 26 Nov 2004 | China Insurance Regulatory Commission |
Cooperative Agreement on Insurance Supervision Please click here for the Press Release |
| 9 Oct 2003 | Prudential Regulation Authority and Financial Conduct Authority (formerly known as Financial Services Authority), the United Kingdom |
MoU of Mutual Assistance and Exchange of Information Please click here [Text Version] for the relevant I Lens |
| 15 Mar 2002 | Monetary Authority of Singapore |
MoU of Mutual Assistance and Exchange of Information Please click here for the Press Release |
| 9 Nov 2001 | Monetary Authority of Macau |
MoU of Mutual Assistance and Exchange of Information Please click here [Text Version] for the relevant I Lens |
| Government Agencies Outside Hong Kong | ||
| 11 May 2020 | Chengdu Municipal Financial Regulatory Bureau |
MOU Please click here for the Press Release |
| Local Regulatory Bodies | ||
| 27 Mar 2024 | Hong Kong Police Force |
Memorandum of Understanding Please click here for the Press Release |
| 4 Dec 2023 |
Hong Kong Monetary Authority and Securities and Futures Commission |
Memorandum of Understanding among the Insurance Authority, the Monetary Authority and the Securities and Futures Commission as Resolution Authorities |
| 26 Oct 2023 | Independent Commission Against Corruption |
Memorandum of Understanding Please click here for the Press Release |
| 14 May 2021 | Hong Kong Monetary Authority | |
| 28 Sep 2020 | Securities and Futures Commission |
Memorandum of Understanding Please click here for the Press Release |
| 19 Jul 2019 | Hong Kong Monetary Authority |
Please click here for the Press Release
|
| 30 Apr 2014 | Commissioner of Customs and Excise, Hong Kong Monetary Authority and Securities and Futures Commission | MoU Concerning Implementation of the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance (Cap.615) |
| 28 May 2013 | Hong Kong Monetary Authority, Securities and Futures Commission and Mandatory Provident Fund Schemes Authority | MoU Concerning the Regulation of Regulated Persons with respect to Registered Schemes under the Mandatory Provident Fund Schemes Ordinance |
| 19 Dec 2007 | Financial Reporting Council |
Memorandum of Understanding Please click here for the Press Release |
| 20 Apr 2004 | Mandatory Provident Fund Schemes Authority |
MoU Please click here [Text Version] for the relevant I Lens |
| 1 Jan 2004 |
Hong Kong Monetary Authority, Securities and Futures Commission and Mandatory Provident Fund Schemes Authority (only applicable to the handling of complaint concerning the conduct of MPF intermediaries prior to 1 November 2012, and has ceased to apply to all other matters with effect from 1 November 2012) |
MoU Concerning the Regulation of MPF Intermediaries Please click here [Text Version] for the relevant I Lens |
| Others | ||
| 1 Nov 2021 | Insurance Complaints Bureau |
MoU between the Insurance Authority and the Insurance Complaints Bureau Please click here for the Press Release |
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