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.
Please contact Gareth Thomas or Helen Beech of the Employment Pensions and Incentives team if you have any questions.
The Herbert Smith Freehills 2014 Asia Pacific Employment Law Guide will be published in April 2014. Stay tuned for more information on the launch. In the meantime, if you wish to obtain a copy of the 2013 Guide, please contact the EPI team.
Key contacts
Simon Chapman KC
Managing Partner, Dispute Resolution and Global Co-Head – International Arbitration, Hong Kong
Kathryn Sanger
Partner, Head of China and Japan, Dispute Resolution, Co-Head of Private Capital, Asia, Hong Kong
Disclaimer
The articles published on this website, current at the dates of publication set out above, are for reference purposes only. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action.