HKMA mystery shopping program on banks' selling practices in respect of investment products and insurance products
Hong Kong Monetary Authority mystery shopping program to ascertain the practices of banks in customer risk profiling, financial needs analysis (as applicable to life insurance products), suitability of recommendations, and product and risk disclosure. A good example of an effective supervisory technique for promoting consumer protection and improved corporate governance.
Publisher:
National Regulators
Release date:
Aug 2018
Country:
Hong Kong, China
Type:
Supervisory Practice
Topics:
Consumer education and protection, Conduct, Financial inclusion, Transparency and disclosure
Sectors:
Banking
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