Regulatory Alerts2020-10-20
Added · Updated
Practices of Authorized Institutions and Expected Standards on Life Insurance Policy Replacement
The Hong Kong Monetary Authority issued this Circular on 20 October 2020 to establish practices and expected standards for Authorized Institutions regarding life insurance policy replacement. The document outlines specific requirements and guidelines to ensure that institutions handle policy replacements in a manner that protects consumer interests and maintains market integrity. It serves as a regulatory reference for wealth management and insurance product sales within the authorized banking sector.