Regulatory Alerts2023-01-06
Added · Updated
Supervisory Policy Manual Module IC-4: Complaints Handling and Redress
The Hong Kong Monetary Authority issues this statutory guideline to require Authorized Institutions to implement effective, fair, and transparent mechanisms for handling customer complaints and providing redress. The document mandates specific operational standards, including timely acknowledgments, impartial investigations, confidentiality, and senior management oversight to ensure accountability and regulatory compliance. It further outlines procedures for reporting potential breaches, cooperating with regulators, and maintaining records to protect financial consumers and maintain banking system stability.
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