The managing team of Hong Kong's Mandatory Provident Fund Schemes Authority (MPFA) has approved proposals for the re-organisation of the regulatory body.
Under the new structure, the roles and functions of the ORSO schemes division, the service supervision division and the member protection division will be replaced by the policy and development division, the regulation and supervision division, and the enforcement division.
Deputy managing director Alan Wong, a civil servant on secondment, will leave the MPFA in June for a new Government posting. The post of the deputy managing director will be abolished upon his departure.
Two chief operating officer (COO) posts will be set up to oversee operations and corporate affairs. Executive directors Hendena Yu and Diana Chan will assume the roles of COO (compliance) and COO (corporate affairs) in addition to their own responsibilities.
The restructuring will commence in June and will be completed in September 2001. By Janet Du Chenne
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