Regulatory Alerts2022-12-23
Added · Updated
Findings of Mystery Shopping Programme on Selling Practices in respect of Qualifying Deferred Annuity Policies and Tax-deductible Voluntary Contributions in Hong Kong
The Hong Kong Monetary Authority issued this circular to report the findings of a mystery shopping programme evaluating selling practices for Qualifying Deferred Annuity Policies and Tax-deductible Voluntary Contributions. The review targeted all authorized institutions to assess compliance with regulatory standards and consumer protection requirements in the wealth management sector. The document serves as a reference for institutions to identify areas for improvement in their sales conduct and product disclosure processes.