Registration Requirements
Approval of Trustees
The MPFA is empowered to regulate and monitor the operation of the MPF System and MPF trustees' compliance with statutory requirements. All applicants must be approved by MPFA before they can act as trustees for MPF schemes.For a corporate applicant, the requirements for approval include: capital adequacy; financial soundness; fitness and propriety of each controller; adequate mix and competency of the board of directors (including an independent director) and the chief executive officer; adequate insurance; sound governance; and internal control measures. The MPFA should be satisfied that the applicant have sufficient expertise and management resources in Hong Kong to conduct its operations effectively. Each application for approval as a trustee is examined in detail to ensure that all approval requirements are satisfied.