Hong Kong MPFA Issued Bans on 3 MPF Intermediaries from Manulife, Convoy Financial Services & OnePlatform Wealth Management with 1) 2-Month Ban as MPF Intermediary on Manulife Yan Yuen Yee Angel (12/2/25 to 11/4/25) for Failing to Seek Approval of Marketing Materials from Manulife Before Distribution to MPF Members, 2) 21-Month Ban as MPF Intermediary on Convoy Financial Services & OnePlatform Wealth Management Tin Lok Man (12/6/25 to 11/3/27) for Misusing MPF Member Personal Information, Failing to Transfer MPF Benefits & Signing on Non-Completed Forms, 3) 8-Month Ban as MPF Intermediary on Manulife Li Siu Man (10/7/25 to 9/3/26) for Failing to Promptly Enrol Client in MPF Scheme as Employer
27th July | Hong Kong
Hong Kong Mandatory Provident Fund Schemes (MPFA) has issued bans on 3 MPF intermediaries from Manulife, Convoy Financial Services & OnePlatform Wealth Management with 1) 2-month ban as MPF intermediary on Manulife Yan Yuen Yee Angel (12/2/25 to 11/4/25) for failing to seek approval of marketing materials from Manulife before distribution to MPF members, 2) 21-month ban as MPF intermediary on Convoy Financial Services & OnePlatform Wealth Management Tin Lok Man (12/6/25 to 11/3/27) for misusing MPF member personal information, failing to transfer MPF benefits & signing on non-completed forms, and 3) 8-month ban as MPF intermediary on Manulife Li Siu Man (10/7/25 to 9/3/26) for failing to promptly enrol client in MPF scheme as employer. 1) MPFA (2025 February) – Manulife Yan Yuen Yee Angel: “The MPFA reprimands and disqualifies the registration of YAN Yuen Yee Angel (YAN) as an MPF intermediary for 2 months from 12 February 2025 to 11 April 2025 (both dates inclusive). YAN was a former MPF subsidiary intermediary attached to an MPF principal intermediary, Manulife (International) Limited (Manulife). The MPFA found that YAN had prepared marketing materials for selling an MPF scheme but failed to seek approval of the marketing materials from Manulife before distribution to scheme members. YAN’s misconduct contravened the related internal policy and guideline of Manulife, as well as the conduct requirements of acting honestly, fairly, in the best interests of the client and with integrity, and of exercising a level of care, skill and diligence that may reasonably be expected of a prudent person who is carrying on the regulated activity as stipulated in the Mandatory Provident Fund Schemes Ordinance and the Guidelines on Conduct Requirements for Registered Intermediaries. In deciding the disciplinary sanction of the case, the MPFA took into account all relevant circumstances, including (a) the nature, seriousness and impact of the breach by YAN; (b) YAN has no previous disciplinary record with the MPFA; and (c) the need to send a deterrent message to the industry. The case was referred to the MPFA in April 2024 for follow-up action following an investigation by the Insurance Authority. A copy of the Statement of Disciplinary Action is available here.” 2) MPFA (2025 June) – Convoy Financial Services & OnePlatform Wealth Management Tin Lok Man: “The MPFA suspends the registration of TIN Lok Man (TIN) as an MPF intermediary for 21 months from 12 June 2025 to 11 March 2027 (both dates inclusive). TIN is a subsidiary intermediary attached to two MPF principal intermediaries, namely Convoy Financial Services Limited (CFSL) and OnePlatform Wealth Management Limited (OWML). The MPFA found that TIN (i) misused a scheme member’s personal information, disclosed it to a third party and arranged the third party to impersonate the scheme member in calling three MPF trustees to obtain the scheme member’s account information; (ii) failed to promptly and accurately carry out the scheme member’s instructions to transfer MPF benefits from two MPF schemes to another scheme; and (iii) failed to ensure that the relevant MPF forms were duly completed before asking the scheme member to sign on them. TIN’s misconduct contravened the conduct requirements of acting honestly, fairly, in the best interests of the client and with integrity, and exercising a level of care, skill and diligence that may reasonably be expected of a prudent person who is carrying on the regulated activity as stipulated under the Mandatory Provident Fund Schemes Ordinance. The case was referred to the MPFA following an investigation by the Insurance Authority. In deciding the disciplinary sanction of the case, the MPFA took into account all relevant circumstances, including (a) the nature, seriousness and impact of TIN’s breaches; (b) TIN has no previous disciplinary record with the MPFA; and (c) the need to send a strong deterrent message to the industry that the MPFA will not tolerate such misconduct. A copy of the Statement of Disciplinary Action is available here.” 3) MPFA (2025 July) – Manulife Li Siu Man: “The MPFA reprimands and disqualifies LI Siu Man (LI) from registration as an MPF intermediary for 8 months from 10 July 2025 to 9 March 2026 (both dates inclusive). LI was a former subsidiary intermediary attached to an MPF principal intermediary Manulife (International) Limited (Manulife). The MPFA found that LI had failed to promptly carry out the instructions of a client to enrol in an MPF scheme as an employer. LI’s misconduct contravened the related internal policy and guidelines of Manulife, as well as the conduct requirements of exercising a level of care, skill and diligence that may reasonably be expected of a prudent person who is carrying on the regulated activity as stipulated under the Mandatory Provident Fund Schemes Ordinance and the Guidelines on Conduct Requirements for Registered Intermediaries. The case was referred to the MPFA following an investigation by the Insurance Authority. In deciding the disciplinary sanction of the case, the MPFA took into account all relevant circumstances, including (a) the nature, seriousness and impact of LI’s breach; (b) LI has no previous disciplinary record with the MPFA; and (c) the need to send a strong deterrent message to the industry that the MPFA will not tolerate such misconduct. A copy of the Statement of Disciplinary Action is available here.”
“ Hong Kong MPFA Issued Bans on 3 MPF Intermediaries from Manulife, Convoy Financial Services & OnePlatform Wealth Management with 1) 2-Month Ban as MPF Intermediary on Manulife Yan Yuen Yee Angel (12/2/25 to 11/4/25) for Failing to Seek Approval of Marketing Materials from Manulife Before Distribution to MPF Members, 2) 21-Month Ban as MPF Intermediary on Convoy Financial Services & OnePlatform Wealth Management Tin Lok Man (12/6/25 to 11/3/27) for Misusing MPF Member Personal Information, Failing to Transfer MPF Benefits & Signing on Non-Completed Forms, 3) 8-Month Ban as MPF Intermediary on Manulife Li Siu Man (10/7/25 to 9/3/26) for Failing to Promptly Enrol Client in MPF Scheme as Employer “
Hong Kong MPFA Issued Bans on 3 MPF Intermediaries from Manulife, Convoy Financial Services & OnePlatform Wealth Management with 1) 2-Month Ban as MPF Intermediary on Manulife Yan Yuen Yee Angel (12/2/25 to 11/4/25) for Failing to Seek Approval of Marketing Materials from Manulife Before Distribution to MPF Members, 2) 21-Month Ban as MPF Intermediary on Convoy Financial Services & OnePlatform Wealth Management Tin Lok Man (12/6/25 to 11/3/27) for Misusing MPF Member Personal Information, Failing to Transfer MPF Benefits & Signing on Non-Completed Forms, 3) 8-Month Ban as MPF Intermediary on Manulife Li Siu Man (10/7/25 to 9/3/26) for Failing to Promptly Enrol Client in MPF Scheme as Employer
Sign Up / Register
Caproasia Users
- Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2025 Investment Day
- March - Hong Kong
- March - Singapore
- July - Hong Kong
- July - Singapore
- Sept- Hong Kong
- Sept - Singapore
- Oct- Hong Kong
- Nov - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
