Regulatory Alerts2019-07-31
Added · Updated
Complaints Watch Issue No. 13
The Hong Kong Monetary Authority issued Complaints Watch Issue No. 13 to highlight complaint trends and regulatory expectations for banks in the first half of 2019. The document identifies key issues regarding the Faster Payment System, where banks failed to clearly communicate service limitations, and the use of secured overdraft facilities for leveraged foreign exchange investments. Banks are reminded to enhance transparency, assess customer suitability, and strengthen internal controls to ensure fair treatment and adequate risk disclosure.
More like this from HKMA
HKMA published 11 documents in the last 30 days. We email you each new one the day it's published.
Topics
Share