The Hong Kong Mandatory Provident Fund Schemes Authority suspended the registration of Au Chi Yan as a Mandatory Provident Fund subsidiary intermediary for 28 months, from Sept. 16, 2026, through Jan. 15, 2029. Au, who is attached to Sun Life Hong Kong Limited, transferred a scheme member’s benefits to another MPF scheme in 2021 without the member’s authorization or knowledge. Au carried out the transfer by misusing personal information obtained from an earlier transaction for the member in 2017. The conduct breached requirements to act honestly, fairly, with integrity and in the client’s best interests. The Mandatory Provident Fund Schemes Appeal Board characterized the misconduct as very serious and upheld the suspension after affirming the authority’s findings. The case followed a referral arising from an Insurance Authority investigation.
2026-09-17Hong Kong Mandatory Provident Fund Schemes Authority
Hong Kong Mandatory Provident Fund Schemes Authority suspends intermediary for 28 months over unauthorized MPF benefits transfer
The Hong Kong Mandatory Provident Fund Schemes Authority suspended Au Chi Yan’s intermediary registration for 28 months over an unauthorized transfer of a member’s MPF benefits. Au misused personal information obtained in an earlier transaction, and the Mandatory Provident Fund Schemes Appeal Board upheld the suspension after finding the misconduct very serious.