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Standards

Compliance Standards for MPF Approved Trustees

 

The MPFA seeks to promote good corporate governance, proper risk management and a positive compliance culture among the trustees. To this end, MPFA has released a set of Compliance Standards  to assist the trustees in establishing a rigorous framework for monitoring their compliance with statutory duties and responsibilities under the MPF System.

These Standards were developed with the help of international consultants to reflect internationally recognized compliance methodology. The Compliance Standards were released in July 2005. There are a total of eight Standards, each accompanied by detailed explanatory notes and examples to provide further guidance to the trustees.

Performance Presentation Standards

 

The Performance Presentation Standards  (“PPS”) were developed jointly by the Hong Kong Trustees Association and the Hong Kong Investment Funds Association to help trustees prepare, calculate and present the information required in a Fund Fact Sheet. PPS was formally recognized by MPFA for the purposes of the Code on Disclosure for MPF Investment Funds (“Disclosure Code”). Fund Fact Sheets sent by the trustees must comply with the requirements of the Standards.

Regulatory Oversight Framework

Framework for Regulatory Oversight of the Operation of an Electronic MPF System

Pursuant to section 6E(1)(ec) of the Mandatory Provident Fund Schemes Ordinance (MPFSO), the Mandatory Provident Fund Schemes Authority (MPFA) is empowered to oversee the operation of eMPF Platform. The Framework for Regulatory Oversight of the Operation of an Electronic MPF System PDF is issued by the MPFA to explain the oversight requirements regarding the duties of the system operator of the eMPF Platform under section 19K of the MPFSO and the processes that the MPFA follows in overseeing the eMPF Platform.