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Circular: SU/CCI/2013/003

To: All Principal Intermediaries

                             Email


Dear Responsible Officer,
 

The Authority will soon launch a campaign to promote the consolidation of Personal Accounts (PAs) to scheme members holding multiple PAs.  Starting from late September, letters will be issued to these scheme members in batches, giving them information on their accounts, and encouraging them to consolidate them into one to facilitate better account management.  It is envisaged that some scheme members may seek assistance from MPF intermediaries with this exercise.

 

To assist scheme members to consolidate their multiple accounts, the Authority has prepared a “Scheme Member’s Request for Account Consolidation Form [FORM MPF(S) - P(C)]” and a leaflet “How to Consolidate MPF Personal Accounts?” and these will be sent to these scheme members.  

 

Furthermore, MPF intermediaries are also reminded that when carrying on a regulated activity (inviting, inducing or advising a client to transfer from one registered scheme to another and / or to invest in a particular constituent fund within that registered scheme), they should comply fully with the provisions in the Mandatory Provident Fund Schemes Ordinance (MPFSO) and any subsidiary legislation under the MPFSO, and all Guidelines issued by the Authority.  Failure to comply may result in disciplinary action being taken by the Authority.

 

You are now invited to nominate one representative to attend a briefing session on the Campaign to be conducted by the Authority.  Details are as follows:


Date : 6 September 2013
Time : 4:00 pm
Venue : 23/F, Nexxus Building, 41 Connaught Road Central, Hong Kong
 

At this moment, due to space constraints we are only able to allocate one seat for each principal intermediary.  If there is an overwhelming response, we may consider arranging an additional session. Please note that attendees are expected to share information and messages with the intermediaries attached to your company, after attending the briefing. 

                       

Please submit your nomination(s) by returning the attached reply slip (by email) by 27 August 2013.  

 

Should you have any queries, please contact Ms Sophie Tsang on 2292 1565 or Ms Taki To on 2292 1096.

 

Thank you for your attention.


Robin Gill
Head (Intermediaries)

c.c. Hong Kong Monetary Authority – Mr Kevin Sham
      Securities and Futures Commission – Mr Sam Tung
      Office of the Commissioner of Insurance – Ms Shirley To

 

Last Revision Date: 17/10/2014