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HKFI GUIDANCE NOTE ON ILAS ILLUSTRATION DOCUMENT (I) Objective The objective of this Guidance Note is to ensure that there is more consistency of approach in the illustration documents for ILAS policies, to ensure that customers receive proper information and disclosure and that the rates of illustration are appropriate to the current investment environment. (II) Background The contents of this Guidance Note have been created by the Life Insurance Council if the HKFI. Office of the...
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Read the HKFI Guidance Note thoroughly to understand its purpose.
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Stakeholders involved in the financial services sector in Hong Kong.
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The HKFI Guidance Note provides recommendations and clarifications on best practices for financial disclosures and reporting in accordance with established financial regulations.
Organizations and entities operating within the financial sector, particularly those regulated by the Hong Kong Financial Institute, are required to file the HKFI Guidance Note.
To fill out the HKFI Guidance Note, entities must carefully follow the specified format, ensuring all required sections are completed with accurate and relevant information as outlined in the guidance document.
The purpose of the HKFI Guidance Note is to enhance transparency, consistency, and accountability in financial reporting among regulated entities, thereby fostering trust and integrity in the financial system.
Entities must report financial performance data, risk assessments, compliance statuses, and any material changes in financial position as required by the HKFI Guidance Note.
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