The international life company said it had taken the decision to close the two products – Harvest Elite Investment Plan and Harvest Wealth Investment Plan – as it wants to ensure a “clean break” when the new rules come into force in January.
The Hong Kong Securities and Futures Commission announced in July that it is to ban the payment of indemnity commission to advisers giving life and advisory companies a limited time to adjust to the changes.
Standard Life will be just the first in a line of companies which are likely to withdraw products in the coming months as they prepare for the new structure.
To read more about the decision click here.
