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Yee Sun Tang

Yee Sun Tang is an Associate in Baker McKenzie, Kuala Lumpur office.

On 4 August 2022, the Consumer Credit Oversight Board Task Force issued the first of a two-part consultation paper to the Consumer Credit Act (CCA) to obtain feedback from interested parties and members of the public on the proposed enactment of the CCA.
The Task Force has now issued the second public consultation paper. The public consultation period on the second paper will close on 15 May 2023.
The feedback from the consultation paper will be considered ahead of the anticipated CCA being passed into law by the end of 2023.

Following the issuance of the Exposure Draft of the Bancassurance/Bancatakful Policy Document on 30 August 2021, Bank Negara Malaysia has issued the final Bancassurance/Bancatakaful Policy Document on 30 June 2022. The objectives of the Policy Document are to: ensure bancassurance/bancatakaful remains as a viable and accessible channel for consumers to purchase insurance and takaful products; promote sound market conduct practices that safeguard consumers’ interest through needs-based sales, disclosure and enhanced transparency; and promote market competitiveness and preserve consumer choice.