The Force entered into a Memorandum of Understanding (MoU) with the Insurance Authority (IA) on March 27, setting out the framework between the two sides in co-operation and providing guidance on matters such as case referral, joint investigation, mutual investigative assistance and information exchange. The MoU was signed by Chief Superintendent (CSP) of Commercial Crime Bureau (CCB) Yau Kin-hung and IA’s Head of Enforcement Ms Maria Tsui in the witness of Assistant Commissioner (Crime) Chung Wing-man (ACP CRM) and IA’s Head of Market Conduct and General Counsel Mr Peter Gregoire.

ACP CRM said that the signing of MoU was a milestone that could enhance the regulatory agency’s supervision on the insurance industry and resilience of the regulatory framework. Mr Gregoire said that the signing of MoU marked the establishment of closer co-operation between the two sides. He also warned those who intended to achieve illegal purposes through the insurance market not to break the law as the Force and IA would continue to strengthen co-operation in accordance with the framework and work together to maintain the integrity of the insurance market.

CSP of CCB Yau Kin-hung (left) and IA’s Head of Enforcement Ms Maria Tsui sign the MoU.