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Enforcement

Case Handling Procedures

Cases involving suspected breaches of performance requirements

Under the statutory regime with effect from 1 November 2012, frontline regulators (FRs) will be responsible for the day-to-day supervision as well as the investigation of complaints made against registered MPF intermediaries (MPFI) who are also their regulatees. They will provide information to MPFA in respect of suspected breaches of performance requirements for an MPFI. MPFA will take into account the information received from FRs and the representation of the MPFI concerned in deciding whether a disciplinary order (i.e. reprimand, fine, suspension of registration, revocation of registration, and/or disqualification of registration) is justified.

Cases involving suspected breaches of performance requirements

If the MPFA finds that an MPFI has failed to comply with any performance requirement when carrying on a regulated activity under the Mandatory Provident Fund Schemes Ordinance, the MPFA may take disciplinary action against the MPFI.

Appeals against MPFA’s disciplinary decisions against MPFI will be handled by a statutory and independent body, the Mandatory Provident Fund Schemes Appeal Board.

The disciplinary process is outlined below:

Disciplinary Process
 

 

Cases involving unregistered regulated activities

For a case which involves unregistered regulated activity, the MPFA may exercise its powers under the Mandatory Provident Fund Schemes Ordinance to investigate the matter. Alternatively, the MPFA may nominate the relevant FR to investigate the matter. If the investigation result shows that there is sufficient evidence to substantiate an unregistered regulated activity, the MPFA will refer the case to the Department of Justice for latter’s consideration for a criminal prosecution.
 

Last Revision Date: 30/10/2019