SFC and MPFA share responsibility in which areas?

SFC and MPFA share responsibility in which areas?

• A. Approving investment managers
• B. Investigating breaches to the Code on MPF products
• C. Authorizing MPF products and marketing materials
• D. All of the above

Answer: (D)

Regulation of MPF schemes is a joint effort between the SFC and the MPFA. Investment managers for MPF schemes must be licensed and supervised by the SFC, so approving those managers sits with the SFC. The MPFA, on the other hand, is responsible for the MPF product framework, including approving MPF products and the marketing materials used to promote them, to ensure they meet the MPF Code. When issues arise related to MPF products or their marketing, both regulators have enforcement roles and can investigate breaches. Because the MPF system blends securities law aspects with MPF-specific rules, both agencies share responsibilities across these areas.

Regulation of MPF schemes is a joint effort between the SFC and the MPFA. Investment managers for MPF schemes must be licensed and supervised by the SFC, so approving those managers sits with the SFC. The MPFA, on the other hand, is responsible for the MPF product framework, including approving MPF products and the marketing materials used to promote them, to ensure they meet the MPF Code. When issues arise related to MPF products or their marketing, both regulators have enforcement roles and can investigate breaches. Because the MPF system blends securities law aspects with MPF-specific rules, both agencies share responsibilities across these areas.