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Enforcement

Regulatory Powers

The MPFA is empowered by law to regulate trustees under the Mandatory Provident Fund Schemes Ordinance (MPFSO). The MPFSO directs the Authority to regulate the affairs and activities of approved trustees and to ensure as far as reasonably practicable that those trustees administer the registered schemes for which they are responsible in a prudent manner.

The MPFSO confers on the MPFA powers to investigate suspected breaches of the approved trustees. The MPFA would exercise the relevant powers to conduct inspections, interview and require information from an approved trustee or any other person.

The MPFA may take the following actions against approved trustees for any breaches of MPF legislation or non-compliance issues:

  • issuance of compliance advice letter
  • imposition of financial penalty
  • varying the approval conditions of the trustee
  • suspension and termination of trustees’ administration of a registered scheme
  • criminal prosecution

Last Revision Date: 30/10/2019