Consumer education and protection

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A New Banking Model for Africa: Lessons on Digitization from Four Years of Operations

IFC and Mastercard Foundation guide to support financial institutions embarking on their digital transformation

International Finance Corporation and Mastercard Foundation report sets out lessons on digitization. This study extracts lessons from several interim reports into a singular end report on DFS strategy and implementation, business models and how institutional culture and change management influence organizations undertaking a DFS journey. By analyzing the experiences of these FIs over time, the study yields valuable lessons and benchmarks for the industry and helps to differentiate salient DFS issues faced by FIs versus mobile network operators.

Publisher: International Organizations Release date: Apr 2019

Type: Consultative, discussion and issues paper

Topics: FinTech, Operational risk, Consumer education and protection

Sectors: Banking

Report on Other Information to be Provided to Prospective and Current Members

EIOPA report sets out principles for transparent, timely and clear information provision on pensions

European Insurance and Occupational Pensions Authority report analyzes national practices existing prior to the implementation of the IORP II Directive on the activities and supervision of institutions for occupational retirement provisions (IORPs).

Publisher: Regional Standard-Setting Bodies Release date: Mar 2019

Type: Consultative, discussion and issues paper

Topics: Transparency and disclosure, Consumer education and protection, Pension and retirement plans

Sectors: Pensions

Proportionality in Bank Regulation and Supervision

Results of BCBS survey of current practices

Basel Committee on Banking Supervision survey sets out how other countries are implementing the Basel Committee standards.

Publisher: Global Standard-Setting Bodies Release date: Mar 2019

Type: Consultative, discussion and issues paper

Topics: Supervisory framework, Transparency and disclosure, Consumer education and protection

Sectors: Banking

Framework for Assessing Conduct Risk Through the Product Lifecycle

EIOPA framework for supervising retail conduct risk

European Insurance and Occupational Pensions Authority framework clarifies drivers of conduct risk and their implications in the emergence of consumer detriment. Provides an aid for understanding issues faced by consumer and input on the types of conduct risks EIOPA and the national competent authorities should focus on.

Publisher: Regional Standard-Setting Bodies Release date: Feb 2019

Type: Consultative, discussion and issues paper

Topics: Supervisory framework, Consumer education and protection

Sectors: Insurance, Pensions

FCA Mission: Approach to Authorization

FCA report sets out its approach to authorizations

UK Financial Conduct Authority report sets out its approach to authorizations. Sets out the conditions that firms and individuals must meet to be authorized, how the FCA evaluates whether firms and individuals meet the conditions, how authorizations promote competition, and how the effectiveness of authorization decisions are evaluated.

Publisher: National Regulators Release date: Nov 2018 Country: United Kingdom

Type: Consultative, discussion and issues paper

Peer: FCA Approach to Competition, FCA Mission: Approach to Consumers

Topics: Consumer education and protection, Transparency and disclosure, Financial inclusion, Conduct, Licensing

Sectors: Banking, Insurance, Pensions, Securities

Guidelines on Provision of Digital Advisory Services

MAS guidelines on characteristics and risks of digital advisory services

Monetary Authority of Singapore guideline sets out its assessment of the unique characteristics of and risks posed by digital advisory services (also known as robo-advisors), along with regulatory expectations.

Publisher: National Regulators Release date: Oct 2018 Country: Singapore

Type: Guideline

Topics: Financial inclusion, Consumer education and protection, Corporate governance, Transparency and disclosure, Operational risk

Sectors: Banking, Securities

E-Payments User Protection Guidelines

MAS guidelines to protect consumers of e-payment services

Monetary Authority of Singapore guidelines standardize protection offered to individuals or micro-enterprises from losses arising from unauthorized or mistaken payment transactions from their protected accounts. Covers: i) liability caps to clarify the amounts that the account user and the financial institution are liable for in any unauthorized payment transaction; ii) notification duties of account users and financial institutions for all payment transactions; and iii) resolution processes for both unauthorized payment transactions and mistaken payment transactions.

Publisher: National Regulators Release date: Sep 2018 Country: Singapore

Type: Guideline

Topics: Consumer education and protection, Conduct

Sectors: Banking

HKMA Mystery Shopping Program

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

Understanding Cyber Insurance - A Structured Dialogue with Insurance Companies

EIOPA report concludes that a deeper understanding of cyber risk is the core challenge for the European cyber insurance industry

European Insurance and Occupational Pensions Authority report provides insights on the functioning, growth potential, challenges and risks of cyber insurance in Europe in the context of the expected growing importance of cyber insurance in the portfolios of (re)insurers. Addresses important key findings, especially the clear need for improved understanding of cyber risk. This report is the first attempt by EIOPA to enhance the level of understanding of cyber risk underwriting with a focus on the European insurance market.

Publisher: Regional Standard-Setting Bodies Release date: Aug 2018

Type: Consultative, discussion and issues paper

Topics: Cyber risk, Consumer education and protection, Operational risk

Sectors: Insurance

Open API Framework for the Hong Kong Banking Sector

HKMA approach to Application Programming Interfaces for the banking industry

Hong Kong Monetary Authority finalized framework and related implementation plan for the Open Application Programming Interface (API). Comprises a selection of Open API functions and deployment time frames, technical standards, third-party service provider guidelines, facilitation measures and maintenance models.

Publisher: National Regulators Release date: Jul 2018 Country: Hong Kong, China

Type: Supervisory Practice

Topics: Consumer education and protection, FinTech, Cyber risk, Operational risk

Sectors: Banking

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Resources

382 records

A New Banking Model for Africa: Lessons on Digitization from Four Years of Operations

Report on Other Information to be Provided to Prospective and Current Members

Proportionality in Bank Regulation and Supervision

Framework for Assessing Conduct Risk Through the Product Lifecycle

FCA Mission: Approach to Authorization

Guidelines on Provision of Digital Advisory Services

E-Payments User Protection Guidelines

HKMA Mystery Shopping Program

Understanding Cyber Insurance - A Structured Dialogue with Insurance Companies

Open API Framework for the Hong Kong Banking Sector

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