Regulatory Alerts2021-09-30
Added · Updated
Joint inspection on the use of premium financing to take out long term insurance policies in Hong Kong
The Insurance Authority and the Hong Kong Monetary Authority issued this circular to communicate the key findings of their joint inspection regarding the use of premium financing for long-term insurance policies. The document outlines regulatory expectations and compliance requirements for all authorized institutions to ensure proper risk management and consumer protection in wealth management activities. It serves as a directive for financial institutions to review their practices and adhere to the standards established during the inspection process.
CIR
Current
Issue Date:
30 Sep 2021
20210930-1-EN.pdf (240.6 KB)
Topic:
Wealth Management & MPF - Insurance products
Group:
All Authorized Institutions
Directly related Document
Cross referenced Document
Version History
Superseded Document
Directly related Document
Annex
Current
30 Sep 2021
Annex - Key findings of the joint inspection of the Insurance Authority and the Hong Kong Monetary Authority on the use of premium financing to take out long term insurance policies in Hong Kong
Annex
Current
30 Sep 2021
Annex - Key findings of the joint inspection of the Insurance Authority and the Hong Kong Monetary Authority on the use of premium financing to take out long term insurance policies in Hong Kong
Cross referenced Document
Version History
Superseded Document
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