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Guidance Note

Guidance Note on Conducting Sales by Unsolicited Calls

 

This Guidance Note on Conducting Sales by Unsolicited Calls  (“Guidance Note”) is issued by MPFA to provide guidance to registered intermediaries in making unsolicited calls for marketing activities (Telemarketing).  In developing the Guidance Note, the MPFA has sought views from the industry and respondents are fully supportive of putting in place requirements and measures to guard against fraudsters and facilitate the public in identifying scam calls.  The Guidance Note takes effect on 1 September 2023.  There are a total of 13 measures, each accompanied by detailed explanations to provide further guidance to registered intermediaries.

Standards

Compliance Standards for MPF Approved Trustees

 

The MPFA seeks to promote good corporate governance, proper risk management and a positive compliance culture among the trustees. To this end, MPFA has released a set of Compliance Standards  to assist the trustees in establishing a rigorous framework for monitoring their compliance with statutory duties and responsibilities under the MPF System.

These Standards were developed with the help of international consultants to reflect internationally recognized compliance methodology. The Compliance Standards were released in July 2005. There are a total of eight Standards, each accompanied by detailed explanatory notes and examples to provide further guidance to the trustees.

Performance Presentation Standards

 

The Performance Presentation Standards  (“PPS”) were developed jointly by the Hong Kong Trustees Association and the Hong Kong Investment Funds Association to help trustees prepare, calculate and present the information required in a Fund Fact Sheet. PPS was formally recognized by MPFA for the purposes of the Code on Disclosure for MPF Investment Funds (“Disclosure Code”). Fund Fact Sheets sent by the trustees must comply with the requirements of the Standards.

Best Practice Note

Best Practice Note for MPF Trustees – Supervision of MPF Intermediaries

 

At the end of 2008, the Mandatory Provident Fund Schemes Authority examined the marketing and selling of MPF schemes and their related investment products.  One of the outcomes of the Review was the production of a Best Practice Note . This Note is a collection of good MPF business practices and can be used as a tool to assist trustees to supervise and monitor their MPF promoters and in turn, their MPF intermediaries in the marketing and selling of MPF schemes and products.

 
Regulatory Oversight Framework

Framework for Regulatory Oversight of the Operation of an Electronic MPF System

Pursuant to section 6E(1)(ec) of the Mandatory Provident Fund Schemes Ordinance (MPFSO), the Mandatory Provident Fund Schemes Authority (MPFA) is empowered to oversee the operation of eMPF Platform. The Framework for Regulatory Oversight of the Operation of an Electronic MPF System PDF is issued by the MPFA to explain the oversight requirements regarding the duties of the system operator of the eMPF Platform under section 19K of the MPFSO and the processes that the MPFA follows in overseeing the eMPF Platform.