Update on latest regulatory requirements for insurance products and insurance-linked securities
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Update on latest requirement for insurance product
To enhance customer protection in the Hong Kong financial industry, the Hong Kong Monetary Authority (“HKMA”), the Securities and Futures Commission (“SFC”) and the Insurance Authority (“IA”) (collectively the “Regulators”) have recently conducted a series of reviews and inspections over the industry’s selling practices of various insurance products and insurance-linked securities and highlighted areas of concerns and their respective regulatory requirements and expectations.
This publication provides a high-level summary of the key regulatory expectations from the Regulators on these specific investment and insurance products offering in Hong Kong, namely:
- Insurance-linked securities;
- Premium financing;
- Qualifying Deferred Annuity Policy;
- Voluntary Health Insurance Scheme; and
- Tax-Deductible Voluntary Contributions.
Mazars offers a wide range of financial advisory services to assist you in complying with the relevant regulatory requirements.
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