Hong Kong: Dodd-Frank, Consumer Protection Act

In today's marketplace, where cross-border e-commerce and online shopping are the norm, consumer protection has become more critical than ever.

Hong Kong has launched a two-month consultation period on introducing a statutory cooling-off period for and imposing a contract duration limitation on pre-paid consumer contracts in the beauty and fitness industries. This initiative targets longstanding issues of unfair trade practices (“UTP”) to protect the rights and interests of consumers by amending the Trade Descriptions Ordinance (“TDO”), the primary consumer protection legislation in Hong Kong.

In an era marked by constant disruption, the role of risk management in banking is evolving rapidly