Regulatory Alerts2012-09-18
Added · Updated
Sale and marketing of Mandatory Provident Fund schemes
The Hong Kong Monetary Authority issued this circular to outline requirements for authorized institutions regarding the sale and marketing of Mandatory Provident Fund schemes ahead of the new statutory regulatory regime. It mandates that all MPF sales and customer fund selections occur exclusively in designated investment corners and requires audio recording for transactions involving risk mismatches. Additionally, institutions must implement strict policies to ensure staff remain fit and proper during the transitional registration period and provide adequate training to handle customer enquiries effectively.
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