Hong Kong Mandatory Provident Fund Schemes Authority disqualifies LAM Chung Ho for 13 years over forged MPF forms and misuse of scheme member data

The Hong Kong Mandatory Provident Fund Schemes Authority (MPFA) has reprimanded and disqualified LAM Chung Ho, a former subsidiary intermediary attached to AIA International Limited, from registration as a Mandatory Provident Fund (MPF) intermediary for 13 years from 9 October 2025 to 8 October 2038. The MPFA described this as the most severe sanction imposed on an MPF subsidiary intermediary since the statutory regulatory regime for MPF intermediaries was implemented in 2012. The MPFA found that LAM forged the signatures of four scheme members on relevant MPF forms and misused their personal information to improperly open four MPF accounts and transfer the MPF benefits of three scheme members from their other MPF accounts into the newly opened accounts. The misconduct was found to contravene conduct requirements under the Mandatory Provident Fund Schemes Ordinance and the Guidelines on Conduct Requirements for Registered Intermediaries, including acting honestly and fairly, in the best interests of clients and with integrity. The case was referred to the MPFA following an investigation by the Insurance Authority, and the MPFA cited the seriousness and impact of the breaches, the absence of any previous MPFA disciplinary record, and the need for deterrence in determining the sanction. The MPFA has also issued a circular to all registered MPF intermediaries reminding them to comply with conduct requirements, and it published a Statement of Disciplinary Action for the case.