2014 FinCoNet Annual General Meeting

27-29 October 2014, Shanghai, China

The FinCoNet Annual General Meeting was hosted by the People’s Bank of China in Shanghai, China, on 27-28 October 2014, and was directly followed by The People’s Bank of China (PBOC) International Seminar on Financial Consumer Protection on 29 October (half day).

FinCoNet AGM

On day one participants had the opportunity to engage in a roundtable blue sky session focused on consumer protection issues, trends and priorities. This was followed by a presentation on the FinCoNet Report on Responsible Lending (http://www.finconet.org/FinCoNet-Responsible-Lending-2014.pdf) that identifies practices and initiates to promote responsible lending in the consumer credit market. The first day concluded with a key note address from the FinCoNet Vice Chair.

Day two began with a discussion on developing a supervisory toolbox to assist market conduct supervisors. This was followed by the first workshop that examined Mobile Payments and the interconnections between Conduct Risk and Prudential Supervision. The second workshop was devoted to the G20/OECD High-Level Principles and development of Effective Approaches to support their implementation and the experience of undertaking an assessment of financial consumer protection frameworks by reciprocal peer review (Ireland and the Netherlands).

PBOC Seminar

The Seminar was held on day three, 29^th October, and was hosted by the People’s Bank of China. It addressed the following key issues; alternative approaches to the supervision and examination of financial consumer protection and the role of Alternative Dispute Resolution (ADR) mechanisms to financial consumer protection frameworks.

The FinCoNet Annual General Meeting gathered FinCoNet members and associates. The PBOC Seminar also included high-level officials from the People’s Bank of China and leading experts from FinConet members and associates.