Regulatory Alerts2021-03-26
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Complaints Watch Issue No. 16
The Hong Kong Monetary Authority issued Complaints Watch Issue No. 16 to highlight complaint trends and regulatory expectations for Authorized Institutions between June 2020 and February 2021. The document mandates enhanced consumer protection measures regarding digital credit application consent, robust fraud prevention against identity theft, and rigorous post-sale monitoring of life insurance policy replacements. It further requires institutions to improve internal controls, staff training, and customer education to ensure fair treatment and safeguard personal data.
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HKMA published 11 documents in the last 30 days. We email you each new one the day it's published.
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