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As experts in the world of cryptocurrency, blockchain, and trading, we are committed to bringing you the latest updates and insights to help you navigate the fast-paced world of digital assets. Today, we bring you important news from the Hong Kong Monetary Authority (HKMA) regarding enhancements to the Code of Practice on Person-to-Person Marketing Calls.
Key Revisions in the Code
The revised code, launched by the Hong Kong Association of Banks (HKAB) and the DTC Association (DTCA), introduces significant changes to how Authorized Institutions (AIs) conduct telemarketing activities. Among the most notable updates is the restriction on the frequency of marketing calls. AIs are now limited to making no more than three calls to the same telephone number within a single calendar week. This measure is intended to enhance the telemarketing experience and reduce potential nuisances for the public.
Additionally, the revised code sets forth several other important guidelines:
- Telemarketing calls are confined to the hours between 9:00 am and 10:00 pm.
- Callers must clearly identify themselves and state the purpose of the call to the recipient.
- AIs must have mechanisms in place to handle unsubscribe requests from recipients.
- There are controls over the collection of information from called parties and arrangements for any subsequent meetings.
- A structured mechanism for handling complaints related to telemarketing activities is mandatory.
Broader Implications
These changes come in response to growing concerns over consumer privacy and the intrusiveness of telemarketing practices. By limiting call frequency and enforcing stricter guidelines, the HKMA aims to foster a more respectful and transparent telemarketing environment. Furthermore, these enhancements align with global trends where regulatory bodies are increasingly focusing on consumer protection in financial services.
At Extreme Investor Network, we believe in providing you with the latest updates and insights to help you stay informed and make sound investment decisions in the ever-evolving world of cryptocurrency and blockchain technology. For more detailed information, you can access the official announcement on the Hong Kong Monetary Authority website.
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