MPF to see M&A in wake of new law

Funds industry figures have welcomed last week’s move by Hong Kong’s Legislative Council to pass amendments to the city’s Mandatory Provident Fund scheme, but concerns remain over the potential impact. The bill clears the way for Employee Choice Arrangement (ECA) to be introduced on November 1 this year, empowering the city’s 2.3 million employees and 300,000 self-employed to have a greater say over their MPF savings. In general, ECA's introduction is expected to put downward pr…