Complaints Watch Issue No. 1

Our Ref: B1/15C 9 May 2014 The Chief Executive All Authorized Institutions Dear Sir / Madam, Complaints Watch The Hong Kong Monetary Authority (HKMA) published today the first 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 where authorized institutions (AIs) may consider paying more attention to. 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, Vincent Lee Director-General (Enforcement) Encl.