Regulatory Alerts2021-12-29
Added · Updated
Mystery Shopping Programme on Selling Practices in respect of Qualifying Deferred Annuity Policies and Tax-deductible Voluntary Contributions in Hong Kong
The Securities and Futures Commission, Insurance Authority, and Mandatory Fund Authority issued this circular to outline a mystery shopping programme assessing selling practices for Qualifying Deferred Annuity Policies and Tax-deductible Voluntary Contributions. The regulatory bodies require all authorized institutions to participate in the programme to ensure compliance with conduct standards and consumer protection requirements. This initiative aims to identify and rectify any deficiencies in the sales processes of these specific financial products.