Carrie Tolstedt was not required to admit or deny the OCC allegations, but she faces up to 16 months in prison under a plea agreement with federal prosecutors.
March 16, 2023Mystery shopping programme identified deficiencies in QDAP and TVC sales practices. Insurers and intermediaries with adverse findings will be required to take remedial actions.
December 29, 2022The guide describes a solution to automating product due diligence and a governance tool for improving oversight of the sales advisory process.
October 28, 2022The panel suggests the establishment of a self-regulatory organisation which would be charged with formulating a code of conduct for digital lenders.
November 23, 2021The BOT has instructed banks to control the quality of their insurance sale practices, saying it is ready to implement "more intense" regulatory measures.
November 23, 2021New draft rules are aimed at strengthening safeguards to ensure the delivery of better outcomes for consumers of insurance/takaful products.
September 5, 2021Starting on 5 October, a four-day pause will be introduced between the sale of a principal product or service and the sale of add-on insurance.
August 2, 2021In a notice, the CBIRC points to regulatory violations by Ping An Bank in its credit card sales practices which violated the rights and interests of consumers.
May 17, 2021From 5 October, the deferred sales model will introduce a four-day pause between the sale of a principal product or service and the sale of add-on insurance.
March 13, 2021The sale of highly complex derivative products will still be banned, but banks will be allowed to sell equity-linked trusts linked to the KOSPI 200, S&P 500, Euro Stoxx 50, HSCEI or Nikkei 225.
December 16, 2019