All posts tagged "Consumer rights"
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283AML / KYCCBIRC Warns of Online Fraudsters Impersonating Regulators
This is the fourth fraud risk warning issued by the CBIRC this year. Consumers are asked to remain vigilant and report fraud attempts.
June 20, 2022 -
438ChinaCBIRC Proposes New Rules on Consumer Rights Protection
The proposed rules prohibit misleading sales, compulsory product bundling, unreasonable charges, and "algorithmic discrimination".
May 23, 2022 -
669Asia-PacificCambodia Launches New Code of Conduct for Banking & Finance
Banks and financial institutions will have until the end of this year to improve their systems and policies to ensure compliance with the code.
March 9, 2022 -
911ESG / SustainabilityUK, Singapore Bolster Cooperation on Data Flows, Financial Services
The UKSDEA promotes free flows of data between the UK and Singapore including in financial services. Both countries will work towards recognising each other's digital identity systems.
March 2, 2022 -
400ChinaCBIRC Details Consumer Rights Infringements by Huaxia Bank
The bank used credit card contracts to “force” customers to accept cross-selling, which infringes on consumers' right to fair transactions, the CBIRC said.
December 22, 2021 -
483China
CBIRC Identifies Corporate Governance Deficiencies at Banks, Insurers
The CBIRC identified issues with shareholder behaviour, related party transactions, risk management systems, and internal audit, among other areas.
November 16, 2021 -
343ChinaChina: Regulatory Crackdown on Internet Platforms Not Yet Complete
About half China's major Internet platforms have implemented plans to restructure their financial businesses. More progress is expected by year-end.
November 3, 2021 -
328KoreaFSC Korea Orders Citi to Submit Detailed Plans on Market Exit
Citi is asked to submit a detailed plan for how it will protect consumer rights as it exits its retail banking business in Korea.
November 1, 2021 -
388EnforcementKorean Tech Giants Told to Comply with Consumer Protection Law
The FSC and FSS have ordered Kakao and Naver to alter or halt the sale of financial products online and register as brokerages by 24 September.
September 15, 2021 -
266China
CBIRC Reprimands Fintech Firm for Consumer Rights Violations
The CBIRC said Mashang Consumer Finance violated product pricing rules, consumer rights, and fair trade regulations.
June 17, 2021
