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Hong Kong – The New Mandatory Provident Fund Schemes Authority Enforcement Division.

28 January, 2014

 

Legal News & Analysis – Asia Pacific – Hong Kong – Labour & Employment

 

A new Enforcement Division has been set up by the Mandatory Provident Fund Schemes Authority (MPFA) with effect from 2 January 2014. 

 

The new Division’s focus is on handling trustee-related complaints, investigating breaches of trustee obligations set out in the Mandatory Provident Fund Schemes Ordinance and taking disciplinary action against non-compliant trustees, employers, scheme members and intermediaries.  In addition, there are plans for the Division to cover criminal investigation and prosecution of trustees, employers, scheme members and intermediaries who do not comply with the Ordinance.

 

The new Enforcement Division has been set up largely to strengthen MPFA’s regulatory function to ensure better compliance with the Ordinance.

 

herbert smith Freehills

 

For further information, please contact:

 

Gareth Thomas, Partner, Herbert Smith Freehills

gareth.thomas@hsf.com

 

Helen Beech, Herbert Smith Freehills

helen.beech@hsf.com


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