Regulatory Alerts2020-06-23
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Complaints Watch Issue No. 15
The Hong Kong Monetary Authority issued Complaints Watch Issue No. 15 to highlight complaint trends and enforce ethical standards in the banking industry. The regulator warns banks against staff fabricating client signatures or concealing personal securities accounts, citing specific cases of misconduct that undermine honesty and integrity. Banks are required to implement robust controls and staff training to prevent such deceptive practices and ensure compliance with regulatory requirements.
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