Conduct

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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

Extending the Senior Managers & Certification Regime to FCA Firms

FCA consultation to extend the Senior Managers & Certification Regime to most regulated firms

UK Financial Conduct Authority policy statement reports on main issues arising from consultations to strengthen individual accountability in regulated firms by extending the Senior Managers & Certification Regime (SM&CR) to almost all regulated firms in order to reduce harm to consumers and increase accountability. Also incorporates near-final rules.

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

Type: Consultative, discussion and issues paper

Parent: FCA's Senior Managers Regime

Topics: Supervisory framework, Corporate governance, Conduct

Sectors: Banking, Insurance, Pensions, Securities

Digitally Delivered Credit

AFI policy guidance note and results from survey of regulators

Alliance for Financial Inclusion guidance note focuses on potential customer risks from different models of digitally-delivered credit. Discusses how policy makers and regulators in emerging markets and developing economies could develop approaches for identifying, monitoring and mitigating the most important customer risks.

Publisher: Others Release date: Apr 2018

Type: Consultative, discussion and issues paper

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

Sectors: Banking, Microfinance

Registration and Operation of Peer to Peer Lending Platforms

RBI directive for Non-Bank Financial Companies operating P2P lending platforms

Reserve Bank of India framework for the registration and operation of Non-Bank Financial Companies Peer to Peer Lending Platforms (NBFC-P2Ps), intermediates providing the services of loan facilitation via online medium or otherwise.

Publisher: National Regulators Release date: Feb 2018 Country: India

Type: Implementation

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

Sectors: Banking

Good Practices on Consumer Protection Related to Private Pension Systems

IOPS sound practice guidelines identify supervisory measures to enhance consumer protection

International Organisation of Pension Supervisors sound practice guidelines examine consumer protection in private pensions systems and the role of supervisory authorities. Identifies key areas and supervisory measures directed at enhancing consumer protection.

Publisher: Global Standard-Setting Bodies Release date: Feb 2018

Type: Sound Practice

Parent: G20 High-Level Principles on Financial Consumer Protection, IOPS Principles of Private Pension Supervision

Peer: Effective Approaches to Support Implementation of G20/IOSCO Principles on Financial Education and Awareness, Effective Approaches to Support Implementation of G20/OECD Principles on Financial Consumer Protection - Part 2

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

Sectors: Pensions

Proposed E-payments User Protection Guidelines

MAS proposed guidelines to protect consumers of e-payment services

Monetary Authority of Singapore proposed guidelines aim to 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: Feb 2018 Country: Singapore

Type: Consultative, discussion and issues paper

Topics: Consumer education and protection, Conduct

Sectors: Banking

Deadline for comments: Mar 2018

Financial Literacy

TC Note discusses how financial literacy relates to financial sector policy objectives

Toronto Centre note to guide supervisors toward making appropriate choices when considering possible regulations, supervisory actions, or other steps that might be taken in the context of their particular circumstances. Note discusses: i) various dimensions of financial literacy; ii) barriers that consumers might face in achieving financial literacy; iii) how financial literacy can affect the achievement of supervisory objectives; iv) steps supervisors might need to take to achieve their objectives if the level of financial literacy is low; and v) roles supervisors can play in strengthening financial literacy.

Publisher: Toronto Centre Release date: Jan 2018

Type: TC Notes

Topics: Consumer education and protection, Financial inclusion, Conduct

Sectors: Banking, Insurance, Microfinance, Microinsurance, Pensions, Securities

Good Practices for Financial Consumer Protection

WB guidance on good practices in the design and implementation of consumer protection regimes in all financial sectors

World Bank Good Practices comprehensive guidance for assessing and strengthening consumer protection regimes in all parts of the financial sector. Addresses legal and regulatory frameworks, disclosure and transparency, business conduct practices, data protection and privacy, and dispute resolution. Provides a compilation of practices used successfully in a range of countries.

Publisher: International Organizations Release date: Dec 2017

Type: Sound Practice

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

Sectors: Banking, Insurance, Pensions, Securities

HKMA Supervisory Policy on Competence and Ethical Behaviour

HKMA guideline on expected behaviour of bank staff

Hong Kong Monetary Authority guideline emphasizes the importance of the competence and ethical behaviour of staff at all levels within a bank's organizational structure and provides guidance on measures banks are expected to adopt in monitoring and maintaining the competence levels and ethical behaviour of their staff.

Publisher: National Regulators Release date: Dec 2017 Country: Hong Kong, China

Type: Guideline

Peer: Enhanced Competency Framework for Banking Practitioners

Topics: Conduct, Corporate governance

Sectors: Banking

Good Practices for the Termination of Investment Funds

IOSCO good practices on the voluntary termination process for investment funds

International Organization of Securities Commissions good practices target broad range of investment funds, including collective investment schemes and other fund structures such as commodity, real estate and hedge funds. Report focuses on 14 sound practices addressing: i) disclosure at time of investment; ii) decision to terminate; iii) decision to merge; iv) during termination process; and v) specific types of investment funds.

Publisher: Global Standard-Setting Bodies Release date: Nov 2017

Type: Sound Practice

Topics: Corporate governance, Transparency and disclosure, Conduct

Sectors: Securities

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Resources

382 records

HKMA Mystery Shopping Program

Extending the Senior Managers & Certification Regime to FCA Firms

Digitally Delivered Credit

Registration and Operation of Peer to Peer Lending Platforms

Good Practices on Consumer Protection Related to Private Pension Systems

Proposed E-payments User Protection Guidelines

Financial Literacy

Good Practices for Financial Consumer Protection

HKMA Supervisory Policy on Competence and Ethical Behaviour

Good Practices for the Termination of Investment Funds

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