How Did Insurers View the 2011 MPF Intermediary Regulation Plan?

Why did insurance brokers oppose the 2011 government plan?

In 2011, the Hong Kong Confederation of Insurance Brokers criticised the plan to split MPF intermediary oversight among the HKMA, the Insurance Authority and the SFC, arguing a single regulator would avoid confusion. Secretary-general Eric Lee said the one-month consultation was too short and submitted a five-page proposal to the FSTB.

What was the crux of the dispute?

Three regulators could impose inconsistent standards on intermediaries; the government wanted the regime in place before the Employee Choice Arrangement.

Why does intermediary regulation matter to workers?

Tighter rules mean cleaner sales practices; compare funds yourself at MPF fund comparison instead of relying on sales pitches.