The Hong Kong Financial Authority (HKMA) has introduced enhancements to the Code of Apply on Individual-to-Individual Advertising and marketing Calls, aiming to enhance client safety and telemarketing practices. The revised code, launched by the Hong Kong Affiliation of Banks (HKAB) and the DTC Affiliation (DTCA), introduces vital modifications to how Approved Establishments (AIs) conduct telemarketing actions.
Key Revisions within the Code
Among the many most notable updates is the restriction on the frequency of promoting calls. The brand new code stipulates that AIs are actually restricted to creating not more than three calls to the identical phone quantity inside a single calendar week. This measure is meant to reinforce the telemarketing expertise and cut back potential nuisances for the general public.
Moreover, the revised code units forth a number of different vital pointers:
Telemarketing calls are confined to the hours between 9:00 am and 10:00 pm.
Callers should clearly determine themselves and state the aim of the decision to the recipient.
AIs will need to have mechanisms in place to deal with unsubscribe requests from recipients.
There are controls over the gathering of data from known as events and preparations for any subsequent conferences.
A structured mechanism for dealing with complaints associated to telemarketing actions is necessary.
The HKMA expects all Approved Establishments to stick to those pointers promptly, in keeping with the implementation timeline specified within the code. The improved code is efficient instantly from June 21, 2024.
Broader Implications
These modifications are available in response to rising issues over client privateness and the intrusiveness of telemarketing practices. By limiting name frequency and implementing stricter pointers, the HKMA goals to foster a extra respectful and clear telemarketing setting.
Moreover, these enhancements align with international tendencies the place regulatory our bodies are more and more specializing in client safety in monetary companies. The HKMA’s proactive strategy might function a mannequin for different jurisdictions trying to steadiness advertising and marketing practices with client rights.
For extra detailed info, the official announcement may be accessed on the Hong Kong Financial Authority web site.
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