Market Conduct and Development Division (MCD)
The Market Conduct and Development Division (MCD) was established in 2013 (a year after the take-off of the Consumer Protection Department) to ensure compliance with set market conduct standards through effective supervision. Its creation was informed by the need to have an independent consumer protection policy research, formulation, monitoring and enforcement group. The division is committed to promoting fair treatment, transparency, and accountability in financial institutions.
What We Do
- Consumer Protection Policy: We research, formulate, monitor, and enforce policies that safeguard consumer rights in financial services.
- Market Surveillance: We monitor the conduct of financial institutions to ensure they comply with regulatory standards and deliver high-quality service to consumers.
- Standards Development: We establish and update standards for fair market practices, ensuring that financial services are accessible and safe for consumers.
- Monitoring Financial Institutions: We regularly review the practices of financial institutions to ensure they meet consumer protection standards.
- Market Intelligence: We gather and analyze data to stay ahead of emerging issues and trends affecting consumers in the financial sector.
Our Commitment to Consumers
- Fair Treatment: We ensure that financial institutions treat consumers fairly and provide accurate, clear information about their products and services.
- Enforcement of Standards: We enforce regulations that promote ethical behavior and prevent misconduct in the financial sector.