Regulatory Alerts2014-09-17
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Complaints Watch
The Hong Kong Monetary Authority issued the second edition of its Complaints Watch newsletter to share information on complaints received by the regulator. This periodic publication highlights the latest complaint trends, emerging topical issues, and areas requiring greater focus from authorized institutions. The HKMA encourages institutions to distribute the document to staff responsible for retail and investment product sales, risk management, compliance, and complaints handling.
Our Ref: B1/15C 17 September 2014 The Chief Executive All Authorized Institutions Dear Sir / Madam, Complaints Watch The Hong Kong Monetary Authority (HKMA) published today the second issue of Complaints Watch. Complaints Watch is a periodic newsletter to share with the banking industry information on complaints received by the HKMA. It highlights the latest complaint trends, emerging topical issues, and areas that authorized institutions (AIs) may wish to place greater focus on. It forms part of the HKMA’s work to promote proper standards of conduct and prudent business practices among AIs. A copy of Complaints Watch is enclosed for your perusal. You may wish to forward it to members of your institution who have responsibilities for selling of retail and investment products, risk management, compliance and complaints handling for reference. If there are any questions on the above, please contact Mr Billy Lai on 2516 6266 or Mr Willy Mak on 2516 7479. Yours faithfully, Meena Datwani Director-General (Enforcement) Encl.
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