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Regulatory measures to supervise trustees and their service providers
MPFA has developed regulatory measures to supervise trustees, with a view to assisting them to develop good corporate governance, proper risk management and a strong compliance culture within their organizations.
MPFA issues various codes and guidelines to ensure that trustees comply with statutory requirements and to help trustees supervise the work of their appointed service providers.
Service providers are responsible for duties such as scheme administration, record keeping, formulation of investment strategies and decisions, and custody of scheme assets, respectively.
Complaints against trustees
Liaison with trustees
MPFA meets regularly with trustees to exchange views on various issues, including MPF administration and operational matters, and initiatives to enhance the MPF System. Meetings between MPFA and trustees are held through the following channels:
- The Trustees Operation Liaison Group – meetings are held with representatives from trustees and MPFA regularly to discuss operational issues of MPF schemes that are of common interest across the industry;
- Sharing Sessions – sharing sessions are held with representatives from trustees and investment managers to discuss issues relating to fund governance and investment compliance; and
- Working Groups – working group meetings are held as needed with industry representatives to discuss specific issues.