The FSC says the revised procedures are scheduled to be formally announced on 1 August and take effect three months later.
July 27, 2023The committee issued recommendations to foster a more customer-centric approach in the financial services industry.
June 6, 2023MAS is also looking into creating a new ombudsman, a market conduct tribunal, a procedure for class-action lawsuits, and an investor compensation scheme.
February 24, 2023The legislation will bring BNPL products under the FCA's regulatory remit, and require BNPL providers to conduct affordability checks.
February 15, 2023Clients of regulated entities will have a free alternative dispute resolution for grievances against credit information companies.
October 8, 2022Credit information companies will be required to have their own internal ombudsman framework, the RBI said.
August 11, 2022Ombudsman agrees to review complaint from Cambodian NGOs alleging IFC funding contributed to human rights abuses in microfinance lending.
May 8, 2022Offline digital payments are expected to benefit areas with weak internet or telecom connectivity, particularly semi-urban and rural areas.
January 6, 2022Treasury recommends government remove the legislative requirement for authorised credit representatives to be members of AFCA.
December 6, 2021The platform enables FIs to track complaints resolution and compare their performance against an anonymised set of similar financial firms.
November 24, 2021