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Studies of market practices by the MPFA revealed that there was considerable room for improvement in the way fees and charges were disclosed to members of MPF schemes. Following a detailed consultation process, the MPFA published the Consultation Conclusions on the Draft Code on Disclosure for MPF Investment Funds in early June 2004.
In June 2004, the MPFA issued the Code on Disclosure for MPF Investment Funds (referred to below as the "Disclosure Code"). The Disclosure Code has subsequently been updated on several occasions, most recently to set out the new content requirements for annual benefit statements.
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