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The Government announced today (October 23) that the Chief Executive has re-appointed Dr Eddy Fong Ching as Chairman of the Process Review Panel in relation to the Regulation of Mandatory Provident Fund Intermediaries (PRP), for a term of two years from November 1, 2015 to October 31, 2017.
Six incumbent members, namely Mr Chan Yim-kwong; Ms Agnes Choi Heung-kwan; Mr Eugene Fung Ting-sek, SC; Mr Hui Ching-yu; Mr Alan Wong Kwok-lun and Ms Nicole Yuen Shuk-kam, have also been re-appointed for a term of two years from November 1, 2015 to October 31, 2017.
Under the existing regulatory regime, the Mandatory Provident Fund Schemes Authority (MPFA) is the authority to register Mandatory Provident Fund (MPF) intermediaries, issue compliance guidelines and impose disciplinary sanctions, while the Hong Kong Monetary Authority, the Insurance Authority and the Securities and Futures Commission are frontline regulators responsible for the supervision and investigation of registered MPF intermediaries whose core business is in the banking, insurance and securities sectors respectively.
"We welcome the re-appointments and are confident that the PRP will continue to be committed to ensuring consistency in the regulatory results of MPF intermediaries," a government spokesman said.
The re-appointments to the PRP were gazetted today.
The membership list of the PRP, with effect from November 1, 2015, is as follows:
Chairman
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Dr Eddy Fong Ching
Members
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Mr Chan Yim-kwong
Ms Agnes Choi Heung-kwan
Mr Eugene Fung Ting-sek, SC
Mr Hui Ching-yu
Mr Alan Wong Kwok-lun
Ms Nicole Yuen Shuk-kam
Ex-officio Members
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Dr David Wong Yau-kar (in the capacity as the Chairman of the MPFA)
Secretary for Justice (or his representative)
Ends/Friday, October 23, 2015
Issued at HKT 12:02
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