Code of Conduct for Licensed Insurance Brokers (“ethics or regulations” related)
This webinar is open to HKCIB Members only.
IA CPD Hours: 3 Hours (“ethics or regulations” related)
Course Outline
A practical refresher for insurance brokers and newly admitted practitioners
- Refresh participants’ understanding of the regulatory framework, apply the eight General Principles to everyday practice and address common compliance questions.
Part 1 — Regulatory Framework, Consequences and Enforcement
- Understanding the regulatory regime
- Consequences of non-compliance
- Overview of enforcement procedures
Part 2 — The Eight General Principles
- GP1 — Honesty and Integrity
- Accurate representations, marketing materials, truthful documents and compliance with internal policies.
- GP2 — Clients’ Best Interests and Fair Treatment
- Putting clients first, impartial advice and sourcing a sufficient range of products.
- GP3 — Care, Skill and Diligence
- Forms, instructions, renewals, follow-up, confidentiality, records and claims assistance.
- GP4 — Competence to Advise
- Understanding products and client risks; recognising limitations and seeking specialist assistance.
- GP5 — Disclosure of Information
- Identity and capacity, product information, client obligations, TOBA, referrals and offshore insurers.
- GP6 — Suitability of Advice
- Understanding client circumstances, explaining recommendations and documenting contrary instructions.
- GP7 — Conflicts of Interest
- Remuneration, relationships and the limits of disclosure.
- GP8 — Client Assets
- Safeguarding client money, proper payment arrangements and responding to errors.
- Part IX — Corporate Governance, Controls and Procedures
- Training, supervision, complaints, escalation and management accountability.
Part 3 — Frequently Asked Questions and Open Q&A
Speaker
Ms. Yvonne Lam, LLB (Hons)
Ms. Yvonne Lam is a practising solicitor admitted in Hong Kong and has joined CIB since 2014. She previously oversaw the investigation and prosecution of CIB’s disciplinary process. With the completion of its self-regulatory functions of CIB in 2019, Yvonne has focused on compliance and professional development. She has contributed to the publication of the Compliance Manual and CIB Bulletins. She also manages CIB Helpdesk to answer enquiries on compliance matters. Yvonne has delivered numerous CPD seminars on the Code of Conduct, financial requirements and Insurance Authority’s guidelines. Her specialty is on ethics.
Important Note: This webinar will be delivered via Zoom Cloud Meeting and you will require to have a computer either desktop or laptop, Windows/Mac, or a tablet with camera, microphone and speaker for joining the session and a stable internet connection.