The Financial Dispute Resolution Centre (FDRC) independently and impartially administers the Financial Dispute Resolution Scheme (FDRS) since the commencement of operation in 2012. By way of primarily "Mediation First, Arbitration Next", FDRC assists the financial consumers to resolve their monetary disputes with the financial institutions. Recently, FDRC is awarded the Financial Education Champion 2019 in recognition of the achievements in promoting the financial consumer protection in the previous years. Apart from organising seminars and workshops to the financial institutions in explaining the role and operation of the FDRS, FDRC has been relentless in promoting its financial consumer protection works to different sectors of the society through various channels, including media advertisements, exhibitions, financial information seminars, online engagement activities.
As at 31 October 2018, a total of 9,290 enquiries were received by FDRC. Out of the enquiries received, 5,214 enquiries were related to complaints about financial products and services.
The award scheme of "Financial Education Champion" is first introduced by the Hong Kong Strategy for Financial Literacy to recognize organisations’ efforts in providing quality financial education initiatives to help raise financial literacy of Hong Kong people. The financial education initiatives are assessed under the seven core competency elements as defined in the Hong Kong Financial Competency Framework, namely money & banking, income & taxation, saving & investing, spending & credit, consumer rights & responsibilities, financial planning, and protection & risk.
Photograph: Mr Anthony Ng (Middle), Chief Executive Officer of the Financial Dispute Resolution Centre, and Ms Ginny Kung (Right), Communications Officer of the Financial Dispute Resolution Centre, receive the “Financial Education Champion 2019” award from Mr Andrew Wan (Left), Chief Financial Officer and Senior Director (Corporate Affairs) of the Securities and Futures Commission and Executive Committee Member of the Investor Education Centre