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 issued this guidance to require authorized institutions to adopt higher standards when sharing customer personal data with third parties for direct marketing purposes. The document outlines two permissible approaches for data sharing: having customers provide data directly to third parties or using a redirection mechanism from the institution's platforms to the third party's platforms. The guidance takes effect on 1 January 2022, with existing arrangements required to comply by 30 June 2022.
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privacy
consumer
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