Regulatory Alerts2021-09-14
Added · Updated
Observations from Reviews on Sale of Qualifying Deferred Annuity Policy and Voluntary Health Insurance Scheme Products and Referral Arrangement of Tax Deductible Voluntary Contributions
The Hong Kong Monetary Authority issued this circular to communicate observations derived from recent supervisory reviews of authorized institutions' sales of Qualifying Deferred Annuity Policies and Voluntary Health Insurance Scheme products. The document also addresses findings related to referral arrangements for Tax Deductible Voluntary Contributions. These observations serve to highlight compliance expectations and operational standards for wealth management and insurance product sales.