The Insurance Commissioner has advised Life Insurance Council members to monitor sales of Mandatory Provident Fund (MPF) products to the public, saying the necessary regulatory authority is not yet in place. The move follows rumours some agents were aggressively lobbying smaller companies to buy products linked to the MPF soon after legislation approving the scheme was passed, but way before its implementation next year. 'I need to make it very clear that no one should sell any MPF products at the moment,' commissioner Alan Wong Chi-kong said. 'The MPF Authority will be set up in June and all MPF service providers and MPF products need to be approved by the MPF Authority before they can be sold to the public.' 'All insurance companies should clearly explain to their agents they cannot sell any MPF products at the moment.' He said he had not received any complaints on the issue but had heard about the rumours. He urged Life Insurance Council chairman Terry Smith to ask companies to explain the situation to their agents. Mr Smith promised the council would bring the matter to the attention of its members. 'The MPF office has decided October 15, 1995, is the deadline for the exemption for the existing Occupational Retirement Schemes (Orso),' Mr Wong said. 'Any Orso schemes set up after the deadline need to be converted to MPF products and need to get approval from the MPF Authority.'