Regulatory Alerts2026-02-11
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Complaints Watch Issue No. 27
The Hong Kong Monetary Authority issued Complaints Watch Issue No. 27 to address a record 16% year-on-year increase in banking complaints, driven by account operations and client agreement issues. The regulator mandates that banks adopt opt-in approaches for service upgrades and ensure staff accuracy to prevent misunderstandings regarding fees and the Code of Banking Practice. Additionally, banks are required to clearly distinguish between ledger and available balances in digital channels to protect customers from fraud.
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