The Hong Kong Monetary Authority (HKMA) is pleased to announce that it has joined the International Financial Consumer Protection Organisation (FinCoNet) as a member institution.
Established in 2013, FinCoNet’s mission is to ensure strong protection for financial consumers through effective supervision, as well as to conduct research and facilitate experience sharing in respect of financial consumer protection measures and supervisory arrangements. Inclusive of the HKMA, FinCoNet’s membership includes more than 30 regulators responsible for financial consumer protection around the world.
Eddie Yue, Chief Executive of the HKMA, said, “With Hong Kong being an international financial centre, the HKMA has been actively participating in international discussions in respect of financial regulation so as to ensure that our regulatory standards are up to date. As financial consumer protection is closely linked with the daily lives of consumers, the HKMA has always been attaching importance to related work and constantly making reference to practices from regulators around the world when devising policies. By joining FinCoNet, the HKMA looks forward to deepening engagement with fellow regulators, as well as sharing Hong Kong’s experience.”
Re-disseminated by The Asian Banker