News
Financial Dispute Resolution Centre’s First Annual Report Published
Providing a review of its work in 2012
(8 July 2013, Hong Kong) - Opening on 19 June 2012, the Financial Dispute Resolution Centre (“FDRC”) has been in operation for one year. FDRC has published its first Annual Report, covering its operation since June 2012.
Ms. Teresa Cheng Yeuk-wah, the Chairman of FDRC, said “Since its establishment in June 2012, FDRC has devoted much effort to ground work needed to properly administer the Financial Dispute Resolution Scheme. Actions such as training for mediators and arbitrators for inclusion on our panels were conducted, seminars and liaison with stakeholders have been established and maintained, and promotion of FDRC to the public has been put in place.”
The 2012 FDRC Annual Report is available at FDRC website at this link: http://www.fdrc.org.hk/en/html/publications/annualreport.php?lang=en.
A snapshot of FDRC’s work in 2012 is covered on page 18. Four case studies are set out on pages 46-49 to illustrate how mediation and arbitration can help resolve monetary disputes between individual customers and financial institutions.
In 2012, FDRC received 1,054 enquiries from the general public. 80% of the cases handled were successfully settled in mediation. 87% of the mediation users rated FDRC services at satisfied or above.
Members of the general public can also obtain hard copies of the 2012 FDRC Annual Report at the FDRC office or by contacting Ms. Ho at 3199-5109 or margarita.ho@fdrc.org.hk.
If financial consumers would like to know more about FDRC services, they are welcome to contact FDRC at 3199 5199 through its Hotline or visit its website at www.fdrc.org.hk.
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For media enquiries, please contact:
Ms. Virginia Siu
Assistant Communications Manager
Financial Dispute Resolution Centre
Tel: 3199 5104
Fax: 2565 8662
Email: virginia.siu@fdrc.org.hk
About Financial Dispute Resolution Centre (FDRC)
FDRC commenced operation on 19 June 2012 as a non-profit company limited by guarantee. It administers an independent and impartial Financial Dispute Resolution Scheme (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 of Hong Kong (except those providing only credit rating services) are members of FDRS. The FDRS provides a cost-effective and time-saving financial dispute resolution avenue for the financial sector and the community.
For more information of the FDRC, please call its hotline at 3199-5199 or visit its website www.fdrc.org.hk.
