Regulatory Alerts2009-03-05
Added · Updated
Fair and reasonable arrangements for settling complaints related to the selling of investment products
The Hong Kong Monetary Authority issued this circular to Registered Institutions regarding the handling of customer complaints, particularly those involving Lehman Brothers products. It requires institutions to ensure settlement processes are fair, provide customers sufficient time to consider terms, and allow reasonable opportunities to seek third-party advice. Additionally, the Authority mandates that settlement agreements must not prohibit the disclosure of information to regulators or law enforcement agencies for investigative purposes.
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