Hong Kong broker banned over breach of personal information

He was also found guilty of forgery and impersonation.

The Hong Kong Insurance Authority has banned former technical representative and broker To Kong to be a licensed insurance intermediary over breach of several codes of conduct.

The IA has prohibited him from applying to be licensed until 14 July 2024, due to a decision by the Mandatory Provident Fund Schemes Authority (“MPFA”) to suspend To Kong’s registration for 40 months for contravening the conduct requirements under the Mandatory Provident Fund Schemes Ordinance.

The MPFA found the former technical representative to be guilty of having made transfers without a scheme member’s authorization, misused of scheme member’s personal information, forging a member’s signature on certain forms, and impersonating a scheme member in calling a Mandatory Provident Fund trustee to obtain account information.

“The lack of integrity he demonstrated in his conduct as a subsidiary intermediary under the MPFSO also renders him not fit and proper to serve as a licensed insurance intermediary under the Ordinance, hence the prohibition,” the IA said.

The IA added that in these situations, it will not hesitate to take disciplinary actions to ensure policy holders and potential policyholders are protected and the reputation of the insurance industry is maintained.

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