Malaysia: Policy document on fair treatment of financial consumers
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Bank Negara Malaysia has issued a policy document on Fair Treatment of Financial Consumers.
The policy document aims to foster high standards of responsible and professional conduct in a financial service provider (FSP).
The document seeks to promote a culture where the interests of financial consumers are an integral part of a FSP’s business strategies and operations. It sets expectations for a FSP to effectively manage conduct risk in its dealings with financial consumers.
The document, except for few requirements, comes into effect on May 6, 2020.
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