MPFA releases proposals on fees

The regulator now invites industry comments for its new rules on disclosing MPF fees and charges.

The Mandatory Provident Fund Schemes Authority MPFA has just released a consultation paper on the draft code on disclosure for MPF investment funds, and invites industry players to submit written comments by March 15.

Unlike previous dialogues between industry and regulator, relations now between MPF service providers and the MPFA are pretty good, and the proposal should come as no surprise to the banks, insurance companies, fund managers and administrators servicing the Mandatory Provident Fund business. While industry players are confident of a reasonable outcome, they have nonetheless voiced some scepticism about what better disclosure will accomplish. Moreover, the views of employer and employee groups remain unknown.

The objective is clearer,...

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