Real Estate, Financials May 19, 2022 10:04 AM (GMT+8) · EqualOcean
The China Banking and Insurance Regulatory Commission has drafted the administrative measures for the protection of consumers' rights and interests of banking and insurance institutions (Draft for comments), which is now open to the public for comments. It is mentioned that regulations should be made in terms of standardizing product design, marketing publicity and sales behavior, prohibiting misleading sales, tying and unreasonable charges, so as to protect consumers' right to know, independent choice and fair trade; Make provisions in terms of protecting the safety of consumers' financial assets and standardizing the underwriting and claim settlement activities of insurance companies, so as to protect consumers' right to property security and claim according to law; Make provisions on the collection, use and transmission of consumers' personal information to protect consumers' right to information security.