All posts tagged "vulnerable customers"
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182Hong KongHKMA Finds Gaps in How Banks Sell Tax Deductible Products
Some banks did not ensure the products were suitable, or did not explain product features and risks to customers.
September 16, 2021 -
222Fintech / RegtechFSC Korea Selects 20 Entities for Digital Data Testbed
Fintech startups will test their business ideas for 11 weeks between 27 September and 10 December, and announce their results by year end.
September 14, 2021 -
320ChinaCross-boundary Wealth Management Connect Launched
The PBOC, HKMA and AMCM have published the implementation details to support the launch of the Cross-boundary Wealth Management Connect Pilot Scheme.
September 10, 2021 -
240Hong KongHKMA Urges Continued Momentum in Bank Culture Efforts
Culture is the "invisible glue" that holds a bank together and assumes an even more critical role during the pandemic, says the HKMA's Arthur Yuen.
September 9, 2021 -
300FeatureFinancial Advice Standards Have Improved, MAS Finds
Financial advisers have enhanced their standards and raised the quality of advice provided to customers, MAS found in a mystery shopping exercise.
June 23, 2021 -
1.5KAML / KYCSFC, HKMA Offer Clarity on Product Disclosure, Suitability Obligations
The SFC and HKMA say firms may adopt a risk-based approach to streamline the provision of product disclosures for sophisticated or experienced investors.
December 30, 2020 -
550FeatureHKMA Relaxes Rules on Retail Sales of Government Bonds
Banks can forgo suitability assessments and audio recordings when distributing low-risk, non-complex retail tranches of Hong Kong or Mainland government bonds.
August 3, 2020 -
759Australia & NZNAB to Stop Dealing with Unlicensed Debt Management Companies
NAB says it wants to ensure vulnerable customers are appropriately and professionally supported, either directly by the bank or an accredited representative of their choice.
August 3, 2020 -
572Australia & NZNew Zealand FMA Warns Derivatives Issuers to Ensure Compliance
Self-assessments by derivatives issuers have identified risks stemming from the way they handle client money, provide advice to retail clients, and handle vulnerable customers.
July 29, 2020 -
1.1KAustralia & NZANZ, Westpac Face Class Actions Just Days After NAB Settlement
Law firm Slater and Gordon has launched class actions against ANZ and Westpac over the sale of consumer credit insurance products, on the heels of winning a near A$50m settlement from NAB.
November 22, 2019
