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Consultation: Amendments to the FDRC ToR to Allow for Disciplinary Proceedings
ABOUT THIS DOCUMENT
- This consultation paper is published by the Financial Dispute Resolution Centre (FDRC) to consult stakeholders on the amendments to the Terms of Reference (ToR) of FDRC (Proposed Amendments) to allow for disciplinary proceedings under the Financial Dispute Resolution Scheme (FDRS).
- The FDRC is a non-profit limited company by guarantee. It administers an independent and impartial FDRS to resolve monetary disputes between individual consumers and financial institutions by way of “Mediation First, Arbitration Next”. All financial institutions authorized by the Hong Kong Monetary Authority or licensed by the Securities and Futures Commission (except those providing only credit rating services) are members of the FDRS.
- The FDRC maintains a List of Mediators and a List of Arbitrators to provide professional mediation and arbitration services under the FDRS. To consider disciplinary matters regarding the FDRC mediators and arbitrators, a Disciplinary Committee has been established.
- Comments and views can be submitted in writing to FDRC no later than 31 August 2014, by any of the following ways:-
By mail to: Financial Dispute Resolution Centre,
15/F, AIA Hong Kong Tower,
734 King’s Road, Quarry Bay,
Hong Kong
By fax to: 2565 8662
By email to: fdrc@fdrc.org.hk
- Any person submitting comments and views on behalf of any representative bodies or organisations is requested to provide details of the representative bodies or organisations they represent.
- If persons, representative bodies or organisations expressing views on the consultation document do not request anonymity or confidentiality in the submissions, it will be assumed that they can be named and their views can be published by FDRC in entirety.
- The Proposed Amendments are available for download.
