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MEMORANDUM OF UNDERSTANDING

A Memorandum of Understanding Concerning the Regulation of Mandatory Provident Fund Products was entered into by the Mandatory Provident Fund Schemes Authority and the Securities and Futures Commission in June 1999 to set out in broad terms their respective responsibilities regarding the regulation of MPF products and their operators. The Memorandum of Understanding was updated in April 2003 mainly to reflect the changes in the Securities and Futures Ordinance 2003.

A Memorandum of Understanding Concerning the Regulation of MPF Intermediaries was entered into by the Mandatory Provident Fund Schemes Authority, the Hong Kong Monetary Authority, the Insurance Authority and the Securities and Futures Commission in October 1999 to set out in broad terms their respective responsibilities in the regulation of MPF intermediaries. The Memorandum of Understanding was updated in January 2004 mainly to reflect the commencement of the Securities and Futures Ordinance and the Banking (Amendment) Ordinance 2002.

A Memorandum of Understanding between the Mandatory Provident Fund Schemes Authority and the Insurance Authority was signed in April 2004 to strengthen the co-ordination of supervisory efforts between the two authorities concerning financial entities with insurance and MPF businesses.

 
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