Regulatory Alerts2014-12-17
Added · Updated
Disclosure of Remuneration Receivable in respect of Sale of Investment-Linked Assurance Scheme Products
The Hong Kong Monetary Authority requires all Authorized Institutions to adopt a revised remuneration disclosure statement for the pre-sale of Investment-Linked Assurance Scheme products by 1 January 2015. Institutions must explain customer rights to request specific remuneration details and provide comprehensive information on types, amounts, and calculation bases upon request. The directive also mandates adequate staff training, record-keeping, and audit trails to ensure compliance with these enhanced customer protection standards.
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