The Hong Kong Mandatory Provident Fund Schemes Authority has suspended the registration of Tin Lok Man as a Mandatory Provident Fund (MPF) intermediary for 21 months, from 12 June 2025 to 11 March 2027 (both dates inclusive). Tin is a subsidiary intermediary attached to Convoy Financial Services Limited and OnePlatform Wealth Management Limited. The MPFA found that Tin misused a scheme member’s personal information by disclosing it to a third party and arranging for the third party to impersonate the member when calling three MPF trustees to obtain the member’s account information. It also found that he failed to promptly and accurately carry out the member’s instructions to transfer MPF benefits from two MPF schemes to another scheme, and failed to ensure relevant MPF forms were duly completed before asking the member to sign them. The conduct was found to breach requirements under the Mandatory Provident Fund Schemes Ordinance to act honestly, fairly, in the client’s best interests and with integrity, and to exercise reasonable care, skill and diligence. The case was referred to the MPFA following an investigation by the Insurance Authority. In determining the sanction, the MPFA considered the seriousness and impact of the breaches, Tin’s lack of prior disciplinary record, and the need for deterrence.
Hong Kong Mandatory Provident Fund Schemes Authority 2025-06-12
Hong Kong Mandatory Provident Fund Schemes Authority suspends MPF intermediary Tin Lok Man for 21 months over misuse of member data and transfer failures
The Hong Kong Mandatory Provident Fund Schemes Authority suspended Tin Lok Man's registration as a Mandatory Provident Fund intermediary for 21 months due to misconduct. Tin misused a scheme member's personal information and failed to execute instructions accurately, breaching the Mandatory Provident Fund Schemes Ordinance. The decision followed an Insurance Authority investigation, considering the seriousness of the breaches and the need for deterrence.