Community Development | Global Developments in Inclusive Financial Systems frbsf.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from frbsf.org Daily Mail and Mail on Sunday newspapers.
Published July 19, 2021, 2:46 PM
Some 16 local and foreign business groups have strongly urged for the immediate enactment of the proposed Financial Consumer Protection (FCP) Act, which seeks to protect consumers amidst the growing complexity in financial services, especially digital services.
In a statement the business group said that the intricate development of financial products and services resulting from advancements in technology has opened countless opportunities for financial markets and consumers alike. It also poses new risks, particularly to financial consumers.
“Reality has shown how financial products, including financial services accessed through digital channels, are susceptible to fraud or used for fraudulent purposes,” according to a statement.
Andrew Martin: Turning the personal data tables professionaladviser.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from professionaladviser.com Daily Mail and Mail on Sunday newspapers.
The Financial Regulatory Commission (FRC) of Mongolia and the Bank of Mongolia (BoM) jointly organized an online discussion last week, on the draft Law on Financial Consumer Protection. The event marks the beginning of the process of introducing the draft law; to relevant government agencies and professional associations in the financial sector.
Online discussion introduces draft law on financial consumer protection montsame.mn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from montsame.mn Daily Mail and Mail on Sunday newspapers.