MPF Intermediaries

Common Offences


Common offences committed by MPF intermediaries (MPFI) include:
impersonating scheme members to obtain their information from MPF trustees
forging clients’ signatures and making unauthorized transfer of clients’ MPF
providing inaccurate information to clients and using marketing materials which have not been approved by their principal intermediaries
asking clients to sign on incomplete forms and failing to keep a record of clients’ instructions, etc.



According to the MPFSO, if an MPFI fails to comply with any performance requirements when carrying on a regulated activity, MPFA may impose disciplinary orders against the MPFI, including:

suspension or revocation of registration 
disqualification from registration
public or private reprimand 
pecuniary penalty (a maximum fine of $10 million or three times the profit gained as a result of the failure, whichever is higher)


Unregistered selling

All individuals are required to register with MPFA as MPFIs before they can engage in MPF sales and marketing activities with prospective/existing scheme members. It is a criminal offence under the MPFSO to carry on or hold out as carrying on regulated activities without registration with MPFA. Offenders are liable to a maximum fine of $5 million and imprisonment for seven years.