Regulatory Alerts2018-08-10
Added · Updated
Mystery Shopping Programme on Authorized Institutions’ Selling Practices in respect of Investment Products and Insurance Products
The Hong Kong Monetary Authority has instituted a Mystery Shopping Programme to supervise the selling practices of Authorized Institutions regarding investment and insurance products. A third-party service provider will deploy trained mystery shoppers to conduct audio-recorded interactions, assessing customer risk profiling, suitability of recommendations, and product disclosure. The findings may trigger follow-up actions for specific institutions and inform industry-wide guidance on conduct standards.
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