Regulatory Alerts2021-09-24
Added · Updated
Guidance on Non-Face-to-Face Distribution of Investment and Insurance Products
The document provides regulatory guidance for Authorized Institutions on distributing investment and insurance products through non-face-to-face channels, emphasizing the need to assess customer appropriateness and identify vulnerable customers. It mandates robust suitability assessments, financial needs analysis, and specific controls for transactions involving vulnerable customers or those with mismatched risk profiles. Additionally, it outlines requirements for product disclosure, audio-recording of sales processes, and effective monitoring mechanisms to prevent abuse and ensure consumer protection.