Applicable Rules Issued by the SROs Prior to 23 September 2019
On 23 September 2019, the IA took over the regulation of insurance intermediaries from the Self-Regulatory Organizations ("SROs") as well as any other cases of alleged contravention that occurred before 23 September 2019 will be handled by the IA by reference to the applicable rules that would have applied to the case had it been handled by the SRO concerned.
Pursuant to section 125 of Part 9 of Schedule 11 to the Insurance Ordinance, the IA published the applicable rules in the Gazette on 23 August 2019 (please click here for details) and 20 December 2019 (please click here for details) and below makes the content of the applicable rules available to any person for inspection free of charge.
List of Applicable Rules
Applicable Rules Issued by the SROs
(as of 22 September 2019)
The Hong Kong Federation of Insurers
Applicable Rules | Version | Effective Date |
Chinese Version (Y/N) |
In-force up to 22 September 2019 (Y/N) |
---|---|---|---|---|
Code of Practice for Administration of Insurance Agents – Handbook for Agents |
1 January 1993 |
Y |
N |
|
Code of Practice for Administration of Insurance Agents (First Edition) |
1 January 1993 |
Y |
N |
|
Code of Practice for the Administration of Insurance Agents (Second Edition) |
1 June 1995 |
Y |
N |
|
The Code of Practice for the Administration of Insurance Agents (Third Edition) |
1 January 1998 |
Y |
N |
|
The Code of Practice for the Administration of Insurance Agents (Fourth Edition) |
1 January 2000 |
Y |
N |
|
The Code of Practice for the Administration of Insurance Agents (Fifth Edition) |
1 January 2002 |
Y |
N |
|
The Code of Practice for the Administration of Insurance Agents (Sixth Edition) |
1 June 2004 |
Y |
N |
|
The Code of Practice for the Administration of Insurance Agents (Seventh Edition) |
1 March 2010 |
Y |
N |
|
The Code of Practice for the Administration of Insurance Agents (Seventh Edition) (with special addendums and housekeeping amendments) |
28 May 2018 |
Y |
Y |
|
Code of Practice for Life Insurance Replacement |
1 December 1994 |
Y |
N |
|
1 October 2002 |
Y |
N |
||
1 January 2005 |
Y |
N |
||
1 May 2006 |
Y |
N |
||
1 October 2008 |
Y |
N |
||
1 February 2010 |
Y |
Y |
||
Cooling-off Period Initiative |
1 July 1996 |
N |
N |
|
Cooling-off Period |
1 January 2003 |
Y |
N |
|
1 February 2010 |
Y |
Y |
||
Initiative on Needs Analysis |
1 January 2002 |
Y |
N |
|
1 May 2006 |
Y |
N |
||
1 February 2007 |
Y |
N |
||
Initiative on Financial Needs Analysis |
1 January 2015 |
N |
N |
|
1 January 2016 |
N |
N |
||
1 June 2018 |
N |
Y |
||
Questions and Answers on Initiative on Financial Needs Analysis |
1 January 2016 |
N |
N |
|
29 January 2016 |
N |
N |
||
12 December 2016 |
N |
Y |
||
New Requirements Relating to the Sale of ILAS Products |
16 October 2009 (Post-sale controls: 31 December 2009) |
N |
N |
|
Updated Requirements Relating to the Sale of ILAS Products following the Introduction of the SFC Handbook for Unit Trusts and Mutual Funds, Investment-Linked Assurance Schemes and Unlisted Structured Investment Products (“SFC Handbook”) |
24 June 2011 |
N |
N |
|
Updated Requirements Relating to the Sale of Investment Linked Assurance Scheme (“ILAS”) to Enhance Customer Protection |
30 June 2013 |
N |
N |
|
1 January 2015 |
N |
N |
||
1 January 2016 |
N |
Y |
||
Questions you need to ask before taking out an ILAS product |
1 February 2011 |
Y |
N |
|
14 October 2011 |
Y |
N |
||
1 June 2013 |
Y |
Y |
||
Code of Practice on Person-to-Person Marketing Calls |
1 April 2011 |
N |
Y |
|
Guidance Note on Gifts |
9 May 2011 |
N |
Y |
|
Guidance Note on Gifts, Promotions and Incentives for Class A and Class C Products |
1 January 2012 |
N |
N |
|
1 January 2014 |
N |
Y |
||
Frequently Asked Questions on Updated Requirements Relating to the Sale of Investment Linked Assurance Scheme (“ILAS”) to Enhance Customer Protection |
1 | 22 October 2013 | N | Y |
Explanatory Notes to Customer Protection Declaration Form |
1 | 1 October 2008 | Y | Y |
Relevant Questions regarding completing the Customer Protection Declaration (CPD) Form |
1 | 1 October 2008 | Y | Y |
HKFI Guidance Note on ILAS Illustration Document |
1 | 1 January 2015 | Y | Y |
Standard Illustration for Participating Policies |
1 | 1 April 2016 for new products; and 1 January 2017 for new and existing policies of current products | Y | Y |
Standard Illustration for Universal Life (Non-Linked) Policies |
1 | 1 April 2016 for new products; and 1 January 2017 for new and existing policies of current products | Y | Y |
Questions and Answers on ‘Guidance Note on Illustration Document for Participating Policies’ and Guidance Note on Illustration Document for Universal Life (Non‐Linked) Policies |
1 | 19 May 2017 | N | Y |
Insurance Agents Registration Board
Applicable Rules | Version | Effective Date |
Chinese Version (Y/N) |
In-force up to 22 September 2019 (Y/N) |
---|---|---|---|---|
GN1 Guidelines on the Definition of “Insurance Agent” under the Insurance Companies Ordinance (Cap.41) (“the Ordinance”) |
9 August 1995 |
N |
N |
|
GN2 Guidelines on the Transitional Arrangement |
24 August 1995 |
N |
N |
|
GN3 Guidelines on the Training Course of Insurance Agents |
1 May 1996 |
N |
N |
|
GN4 Guidelines on Misconduct |
1 September 1998 |
N |
N |
|
17 May 1999 |
N |
N |
||
1 January 2000 |
Y |
N |
||
1 June 2004 |
Y |
Y |
||
GN5 Guidelines on Handling of Premiums |
1 June 1999 |
N |
N |
|
1 November 1999 |
Y |
N |
||
1 January 2000 |
Y |
N |
||
1 June 2004 |
Y |
Y |
||
GN6 Guidelines on the Effective Date of Registration of Insurance Agents, Responsible Officers and Technical Representatives |
1 August 2000 |
Y |
N |
|
1 June 2004 |
Y |
Y |
||
GN7 Guidance Note on Compliance with the Requirements of the Continuing Professional Development (CPD) Programme |
30 November 2004 |
Y |
N |
|
13 June 2005 |
Y |
N |
||
1 March 2010 |
Y |
Y |
||
GN8 Guidance Note on Compliance with the Requirements of the Continuing Professional Development (CPD) Programme for the Transitional Period |
30 November 2004 |
Y |
N |
|
13 June 2005 |
Y |
N |
||
GN9 Guidance Note on Restricted Scope Travel Business |
25 January 2008 |
Y |
N |
|
1 March 2010 |
Y |
Y |
||
GN10 Guidance Note on Compliance with the Requirements of the Continuing Professional Development (CPD) Programme for Registered Persons who are Registered as Engaging in Restricted Scope Travel Business (RSTB) only |
16 June 2009 |
Y |
Y |
|
GN11 Guidance Note Applicable to Registered Persons Wishing to Engage/Continue to Engage in Investment-linked Long Term (ILLT) Insurance Business on or after 1 March 2010 |
1 March 2010 |
Y |
Y |
|
Guidelines on Disciplinary Actions |
24 February 2010 |
Y |
N |
|
1 July 2015 |
Y |
Y |
||
Circular: Recognized education proof |
25 January 2000 |
Y |
N |
|
Circular: Recognized education proof (Update) |
1 March 2018 |
Y |
Y |
|
Circular: Enhanced Vetting Requirements for Registration |
1 May 2017 |
Y |
Y |
|
Circular: Enhanced Vetting Requirements for Registration – |
23 June 2017 |
Y |
Y |
|
Circular: Names used by Registered Persons |
26 February 2003 |
Y |
Y |
|
Circular: Insurance Agent engaging in illegal Cross-border Selling Activities |
19 August 2003 |
Y |
N |
|
Circular: Continuing Professional Development (CPD) Programme – Revised Administrative Procedures |
13 June 2005 |
Y |
N |
|
Circular: Continuing Professional Development (CPD) Programme – Actions to be taken against Registered Persons who have failed to comply with the CPD requirements |
4 November 2005 |
N |
N |
|
Circular: Continuing Professional Development (“CPD”) Programme |
31 July 2017 |
N |
Y |
|
Circular: Continuing Professional Development (CPD) Programme |
15 March 2005 |
Y |
N |
|
Circular: Continuing Professional Development (CPD) Programme |
14 November 2005 |
N |
N |
|
Circular: Issuance of addenda to the Code of Practice for the Administration of Insurance Agents |
20 January 2006 |
Y |
N |
|
Circular: Issuance of addenda to the Code of Practice for the Administration of Insurance Agents |
15 May 2006 |
Y |
N |
|
Circular: Addendum to the Code of Practice for the Administration of Insurance Agents - delegation of power |
1 April 2008 |
Y |
N |
|
Circular: Reporting of Continuing Professional Development (CPD) Compliance |
25 July 2006 |
N |
N |
|
Circular: Application for exemption from / extension of the deadline for complying with CPD requirements |
13 October 2006 |
N |
Y |
|
Circular: Reporting of Continuing Professional Development (CPD) Compliance |
4 July 2007 |
N |
N |
|
Circular: Continuing Professional Development (“CPD”) Programme |
26 November 2007 |
Y |
N |
|
Circular: Continuing Professional Development (“CPD”) Programme - Implementation date for Travel Insurance Agents |
1 August 2008 |
Y |
Y |
|
Circular: Reminder to Insurance Agents on Policy Replacement |
18 September 2008 |
Y |
Y |
|
Circular: Global Financial Crisis |
10 November 2008 |
Y |
Y |
|
Circular: ILAS - related complaints |
2 November 2009 |
Y |
Y |
|
Circular: Wishing to Engage/Continue to Engage in Investment-linked Long Term (ILLT) Insurance Business on or after 1 March 2012 |
26 October 2011 |
Y |
N |
|
Circular: Updated Continuing Professional Development ("CPD") Information Sheet |
26 June 2014 |
Y |
N |
|
Circular: Updated Continuing Professional Development (“CPD”) Information Sheet |
3 December 2014 |
Y |
Y |
|
Circular: Continuing Professional Development ("CPD") Compliance |
14 May 2015 |
Y |
Y |
|
Circular: Reminder – 2018 CPD Assessment |
29 May 2018 |
N |
Y |
|
Circular: Continuing Professional Development (CPD) Programme –Administrative Procedures |
24 January 2003 |
Y |
N |
|
Circular: Continuing Professional Development (CPD) Programme –Administrative Procedures |
30 November 2004 |
Y |
N |
The Hong Kong Confederation of Insurance Brokers
Applicable Rules | Version | Effective Date |
Chinese Version (Y/N) |
In-force up to 22 September 2019 (Y/N) |
---|---|---|---|---|
Memorandum & Articles of Association |
11 February 1993 |
N |
N |
|
10 December 1996 |
N |
N |
||
20 February 2006 |
N |
N |
||
10 August 2010 |
N |
N |
||
21 November 2013 |
N |
Y |
||
Membership Regulations, Code of Conduct, Accepted Insurance Person |
11 February 1993 |
Y |
N |
|
Membership Regulations and Code of Conduct |
14 December 1993 |
Y |
N |
|
26 October 1995 |
Y |
N |
||
10 December 1996 |
Y |
N |
||
10 October 2006 |
Y |
N |
||
10 August 2010 |
Y |
N |
||
15 April 2013 |
Y |
N |
||
15 January 2013 |
Y |
N |
||
11 June 2013 |
Y |
Y |
||
Membership Regulations |
8 April 2014 |
Y |
N |
|
15 July 2015 |
Y |
Y |
||
IIQAS CPD Programme Administrative Framework |
17 September 2003 |
N |
N |
|
10 March 2005 |
N |
N |
||
10 July 2006 |
Y |
Y |
||
Regulations for Insurance Brokers Engaged in Advising on Linked Long Term Insurance or Arranging or Negotiating Policies of Linked Long Term Insurance |
1 November 2011 |
Y |
Y |
|
Penalty Guidelines |
23 January 2014 |
N |
Y |
|
Guidance Note on Annual Certification for Adequate Professional Indemnity Insurance |
7 March 2007 |
N |
N |
|
10 June 2009 |
N |
Y |
||
Guidance Note on Registering Alternate Chief Executive |
23 April 2007 |
N |
Y |
|
Guidance Note on Proper Delivery of Long Term Insurance Policy |
23 April 2007 |
N |
N |
|
29 January 2010 |
N |
Y |
||
Guidance Note on Conducting Needs Analysis for Long Term Insurance Business (Including Linked Long Term Insurance) |
22 June 2007 |
N |
N |
|
Guidance Note on Conducting “Know Your Client” Procedures for Long Term Insurance Business (Including Linked Long Term Insurance) |
1 June 2014 |
N |
N |
|
1 January 2015 |
N |
N |
||
Guidance Note on Conducting “Know Your Client” Procedures for Long Term Insurance Business |
1 January 2016 |
N |
Y |
|
Guidance Note on Annual Certification by Members Being Engaged in Long Term Insurance Business for Compliance with IA's Guidance Note on Prevention of Money Laundering and Terrorist Financing |
22 June 2007 |
N |
N |
|
Guidance Note on Annual Certification by Members Being Engaged in Long Term Insurance Business for Compliance with IA’s Guideline on Anti-Money Laundering and Counter-Terrorist Financing |
15 March 2012 |
N |
N |
|
23 January 2014 |
N |
Y |
||
Guidance Note on Documentary Proof of Educational Attainment for Registration's Purpose |
15 October 2007 |
N |
N |
|
15 March 2012 |
N |
Y |
||
Guidance Note on the Administrative Framework in relation to and arising from the enhanced IIQE Paper for Investment-linked Long Term Insurance |
8 December 2009 |
N |
Y |
|
Guidance Note on Dealing with Referral Business |
7 May 2010 |
N |
Y |
|
Guidance Note on Client Agreement for Linked Long Term Insurance Business |
22 July 2011 |
N |
Y |
|
Guidance Note on Address Proof for Registration's Purpose |
15 March 2012 |
N |
Y |
|
Guidance Note on Keeping of Separate |
16 August 2013 |
N |
N |
|
12 May 2015 |
N |
Y |
||
Guidance Note on Product Recommendation for Long Term Insurance Business (Including Linked Long Term Insurance) |
1 January 2015 |
N |
N |
|
Guidance Note on Product Recommendation for Long Term Insurance Business |
1 January 2016 |
N |
Y |
|
Guidance Note on Using Business Names or Brand or Trade Names |
17 September 2015 |
N |
Y |
|
Circular - Registration: Enhanced Verification of Academic Certificates issued by Mainland Education Institutes |
27 March 2017 |
N |
Y |
|
Circular - Restriction on Procurement of Foreign Insurers' Insurance Products by Japanese Residents |
10 November 2017 |
N |
Y |
Professional Insurance Brokers Association
Applicable Rules | Version | Effective Date |
Chinese Version (Y/N) |
In-force up to 22 September 2019 (Y/N) |
---|---|---|---|---|
Memorandum and Articles of Association |
29 January 1988 |
N |
N |
|
27 October 1994 |
N |
N |
||
27 February 1997 |
N |
N |
||
25 February 2002 |
N |
N |
||
20 July 2004 |
N |
N |
||
3 February 2005 |
N |
N |
||
8 October 2014 |
N |
Y |
||
Membership Regulations |
29 January 1988 |
N |
N |
|
27 October 1994 |
N |
N |
||
27 February 1997 |
N |
N |
||
1 October 2003 |
N |
N |
||
15 April 2013 |
N |
N |
||
1 February 2015 |
N |
Y |
||
PIBA Membership Withdrawal Conditions and Requirements |
1 August 2004 |
N |
N |
|
1 October 2005 |
N |
N |
||
1 June 2006 |
N |
Y |
||
Guideline on Insurance Intermediaries Quality Assurance Scheme (“IIQAS”) Continuing Professional Development (“CPD”) Programme |
5 October 2007 |
N |
N |
|
22 October 2012 |
N |
N |
||
11 April 2014 |
N |
N |
||
12 December 2014 |
N |
N |
||
22 March 2016 |
N |
Y |
||
Annual Certification for Compliance with the Guidance Note on Prevention of Money Laundering and Terrorist Financing |
7 November 2007 |
N |
N |
|
Annual Compliance Certification – Guideline on Anti-Money Laundering and Counter-Terrorist Financing (AML) published under S7 of the AMLO and S4A of ICO |
4 April 2014 |
N |
N |
|
Annual Compliance Certification – Guideline on Anti-Money Laundering and Counter-Terrorist Financing (AML) published under S7 of the AMLO and S133 of IO |
2 May 2018 |
N |
N |
|
Annual Compliance Certification – Guideline on Anti-Money Laundering and Counter-Terrorist Financing (November 2018 version) issued under S7 of the AMLO and S133 of IO |
2 May 2019 |
N |
Y |
|
Guidelines on Alternate Chief Executive Registration |
2 October 2008 |
N |
Y |
|
Code of Conduct for Insurance Brokers Conducting Investment Linked Business |
1 April 2011 |
N |
N |
|
1 March 2014 |
N |
Y |
||
Guidance Note on Conducting Investment Linked Business |
1 January 2015 |
N |
Y |
|
Penalty Guidelines |
1 January 2014 |
N |
Y |
|
Circular letter: Imprinting Registration Number on Name Cards |
1 July 2002 |
N |
Y |
|
Circular letter: Guidelines on name card and stationery |
20 June 2005 |
N |
Y |
|
Circular letter: Insurance Intermediaries Quality Assurance Scheme (IIQAS) - Professional Upgrade of Investment-linked Long Term Insurance Examination |
31 December 2009 |
N |
Y |
|
Circular letter: Non-disclosure of (1) disciplinary / bankruptcy records (2) criminal records |
1 March 2012 |
N |
Y |
|
Circular letter: Using Erasable Ink Pen |
28 March 2012 |
N |
Y |
|
Circular letter: Cross-Border (People's of Republic of China (PRC)) Selling |
12 September 2012 |
N |
Y |
|
Circular letter: Dual Registration of Chief Executive (“CE”) and Technical Representative (“TR”) |
7 April 2014 |
N |
Y |
|
Circular letter: Dual Registration of Chief Executive (“CE”) |
1 February 2016 |
N |
Y |
|
Circular letter: Deductible greater than Net Assets Value (“DGNAV”) under the Professional Indemnity Insurance (“PII”) Policy |
29 September 2015 |
N |
Y |
|
Circular letter: PIBA Financial Needs Analysis (“FNA”) Form for both Class A and C Products pursuant to “Initiative on FNA” issued by the Hong Kong Federation of Insurers (“HKFI”) |
5 January 2016 |
N |
Y |
|
Circular letter: Verification of Academic Certificates Issued by Mainland Education Institutes |
1 March 2017 |
N |
Y |
|
Circular letter: Verification of Academic Certificates Issued by Mainland Education Institutes [For (I) New Applicants, and (II) Current Registrants] |
31 March 2017 |
Y |
Y |
|
Circular letter: Restriction on Procurement of Foreign Insurers’ Insurance Products by Japanese Residents |
27 October 2017 |
N |
Y |
|
Circular letter: Employees’ Compensation Insurance Standardized Practice |
1 January 2019 |
Y |
Y |
|
Circular letter: Implementation of “Remuneration Disclosure” effected from 15 April 2013 |
15 April 2013 |
N |
Y |
|
Circular letter: Serious Malpractice in Investment Linked Products |
27 May 2011 |
Y |
Y |
|
Circular letter: OCI’s Guidance Note on (all authorized Insurers) Underwriting Class C (Investment-Linked Assurance Schemes (“ILAS”)) Business (GN15) |
22 August 2014 |
N |
Y |
|
Circular letter: (1) Updates on OCI’s Guidance Note on (all authorized Insurers) Underwriting Class C (Investment-Linked Assurance Schemes (“ILAS”)) Business (GN15); (2) PIBA’s Guidance Note 1 on Conducting Investment Linked Business |
24 December 2014 |
N |
Y |
|
Circular letter: Financial Needs Analysis (“FNA”) applicable to Class A* and Class C Business effective 1 January 2016 |
1 January 2016 |
N |
Y |
|
Circular letter: PIBA Financial Needs Analysis (“FNA”) Form for both Class A and C Products pursuant to “Initiative on FNA” issued by the Hong Kong Federation of Insurers (“HKFI”) |
22 December 2015 |
N |
Y |
|
Circular letter: Recent Updates on Financial Needs Analysis (“FNA”) Form |
28 June 2016 |
N |
Y |
|
Circular letter: Enhanced PIBA Financial Needs Analysis (“FNA”) Form (Version: PIBA-FNA-2016-002) effective from 30 September 2016 |
30 September 2016 |
N |
Y |
|
Circular letter: Important Facts Statement for Mainland Policyholder (“IFS-MP”) |
1 September 2016 |
N |
Y |
|
Circular letter: Important Facts Statement for Mainland Policyholder (“IFS-MP”) – Control Measures for Change of Policy Ownership or Policy Assignment to Mainlanders |
1 September 2016 |
N |
Y |