Hong Kong Mandatory Provident Fund Schemes Authority (MPFA) reprimanded and disqualified LI Siu Man from registration as a Mandatory Provident Fund (MPF) intermediary for eight months, from 10 July 2025 to 9 March 2026, after finding she failed to promptly carry out a client’s instructions to enrol in an MPF scheme as an employer. The decision found the misconduct breached Manulife (International) Limited’s internal policies and the conduct requirement to exercise the care, skill and diligence of a prudent person under the Mandatory Provident Fund Schemes Ordinance and the Guidelines on Conduct Requirements for Registered Intermediaries. LI was a former subsidiary intermediary attached to Manulife between 3 September 2020 and 9 November 2023 and has ceased registration since 19 February 2024. The case was referred to the MPFA following an investigation by the Insurance Authority, and the sanction took into account the seriousness and impact of the breach, the absence of prior MPFA disciplinary record, and the need for deterrence.
Hong Kong Mandatory Provident Fund Schemes Authority 2025-07-10
Hong Kong Mandatory Provident Fund Schemes Authority disqualifies former Manulife MPF intermediary LI Siu Man for eight months
The Hong Kong Mandatory Provident Fund Schemes Authority reprimanded and disqualified LI Siu Man from registration as a Mandatory Provident Fund intermediary for eight months for failing to promptly enrol a client in an MPF scheme. The misconduct breached Manulife (International) Limited’s internal policies and the conduct requirement under the Mandatory Provident Fund Schemes Ordinance. The sanction considered the seriousness of the breach, the absence of prior disciplinary records, and the need for deterrence.