Regulatory Alerts2023-01-06
Added · Updated
Supervisory Policy Manual Module IC-4: Complaints Handling and Redress
The Hong Kong Monetary Authority issued an updated Supervisory Policy Manual Module IC-4 as a statutory guideline to align authorized institutions with global best practices in financial consumer protection. The revised framework requires institutions to monitor control deficiencies identified through customer complaints and to proactively utilize alternate dispute resolution channels for unresolved monetary disputes. Authorized institutions must implement these enhanced requirements within three months of the letter's date, by 5 April 2023.
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