Hong Kong Monetary Authority Updates Telemarketing Code to Limit Calls

The
Hong
Kong
Monetary
Authority
(HKMA)
has
announced
enhancements
to
the
Code
of
Practice
on
Person-to-Person
Marketing
Calls,
aiming
to
improve
consumer
protection
and
telemarketing
practices.
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.

Key
Revisions
in
the
Code

Among
the
most
notable
updates
is
the
restriction
on
the
frequency
of
marketing
calls.
The
new
code
stipulates
that
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.

The
HKMA
expects
all
Authorized
Institutions
to
adhere
to
these
guidelines
promptly,
according
to
the
implementation
timeline
specified
in
the
code.
The
enhanced
code
is
effective
immediately
from
June
21,
2024.

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.
The
HKMA’s
proactive
approach
may
serve
as
a
model
for
other
jurisdictions
looking
to
balance
marketing
practices
with
consumer
rights.

For
more
detailed
information,
the
official
announcement
can
be
accessed
on
the

Hong
Kong
Monetary
Authority
website.

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source:
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