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⏭... actions. 14. One respondent asked whether the IA can impose a pecuniary penalty on more than one person with respect to the same misconduct. The answer is yes, if appropriate. The Ordinance does not set a cap on the number of persons to be disciplined per incident, and the maximum pecuniary penalty applies...
https://www.ia.org.hk/english/supervision/reg_ins_intermediaries/files/Consultation_Conclusions_on_Pecuniary_Penalty_GL_Eng.pdf -
Date: 2019-09-10
[PDF]
12.sn-IL-2017_eng.pdf
... Financial Needs Analysis 6/55 C. Product Key Facts Statement - Illustrative Template 6/60 D. Wording Guidelines on Announcement of Cooling-off Rights on Application Form 6/68 E. Wording Guidelines on Announcement of Cooling-off Rights with Policy Issue 6/69 F. Customer Protection Declaration Form 6/70 G....
https://www.ia.org.hk/english/supervision/reg_ins_intermediaries/files/12.sn-IL-2017_eng.pdf -
Date: 2019-12-02
... insurance brokers with the relevant laws and regulatory requirements. The IA will conduct on-site inspections or prudential visits to licensed insurance broker companies, so as to gauge the level of their compliance and compliance of their responsible officers and technical representatives (broker) with the...
https://www.ia.org.hk/english/supervision/reg_ins_intermediaries/insurance_brokers.html -
Date: 2020-06-16
... capacity of the Alt. CE will be reverted back to “Technical Representative” and the matter of non-compliance by the Member with Membership Regulation 7.5 will be referred, without further notice on the expiry date of the 6-month period, to the Disciplinary Committee for attention. 6. Other Requirements of...
https://www.ia.org.hk/english/supervision/reg_ins_intermediaries/files/1_CIB_GN2_Guidance_Note_on_Registering_Alternate_Chief_Executive_v1_23_4_2007_eg19.pdf -
Date: 2019-12-20
[HTML]
Licence Application
... Representative (Broker) Licensed Insurance Broker Company Compliance with the education requirements as specified in the Guideline on “Fit and Proper” Criteria for Licensed Insurance Intermediaries under the Insurance Ordinance (Cap. 41...
https://www.ia.org.hk/english/supervision/reg_ins_intermediaries/licence_application.html -
Date: 2020-04-21
... Products” dated September 2020, issued by the HKMA (the “Report”). The MSP was carried out from the second half of 2018 to 2020 by a service provider engaged by the HKMA. With regards to insurance products, the focus of the MSP was on long term business. As regards the sale of insurance products, whilst...
https://www.ia.org.hk/english/legislative_framework/circulars/reg_matters/files/Cir_dd_06112020_Mystery_Shopping_Programme.pdf -
Date: 2020-12-21
[PDF]
cir_aml_20190313.pdf
... destruction (“WMD”) and its financing. The FATF calls on its members and urges other jurisdictions to apply effective counter-measures and targeted financial sanctions in accordance with applicable United Nations Security Council Resolutions to protect their financial sectors from money laundering, financing...
https://www.ia.org.hk/english/legislative_framework/circulars/antimoney_laundering/files/cir_aml_20190313.pdf -
Date: 2019-12-24
... Consultation conclusions on the Insurance (Group Capital) Rules 28 December 2020 The Insurance Authority (IA) today (28 December 2020) published the consultation conclusions on the draft Insurance (Group Capital) Rules (the Group Capital Rules) in...
https://www.ia.org.hk/english/infocenter/press_releases/20201228.html -
Date: 2020-12-28
... New Q&As to Interpretation Notes 1 Insurance Authority (“IA”) Circular providing interpretation notes (“Circular”) relating to the Guideline on Sale of Investment-Linked Assurance Scheme (“ILAS”) Products The Insurance Authority (“IA”) issues this Circular with the aim of providing further...
https://www.ia.org.hk/english/legislative_framework/circulars/reg_matters/files/New_QNAs_to_Interpretation_Notes.pdf -
Date: 2021-12-10