Regulatory Alerts2021-11-19
Added · Updated
Guidance on Sharing Customer Data by Authorized Institutions for Direct Marketing by Third Parties
The Hong Kong Monetary Authority issues this guidance to regulate how authorized institutions share customer personal data with third parties for direct marketing purposes. It mandates that institutions adopt either a direct approach where customers provide data themselves or a redirection approach requiring clear consent, data minimization, and specific limits on the types of data shared based on the recipient's regulatory status. Additionally, the document requires strict adherence to the Personal Data (Privacy) Ordinance, implementation of data security and ethical governance measures, and the establishment of monitoring controls and data sharing agreements to protect customer rights.
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