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.
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.