Regulatory Alerts2016-11-30
Added · Updated
Engagement of Intermediaries by Authorized Institutions
The Hong Kong Monetary Authority issued this circular to require Authorized Institutions to appoint intermediaries directly and prohibit charging loan-related fees to borrowers. These measures aim to enhance customer protection and mitigate reputation risks associated with fraudulent lending practices. Institutions must implement these requirements by 31 March 2017 while ensuring compliance with data privacy and banking practice codes.
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