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Home > Country profiles > Hong Kong > Articles > Article detail

Spotlight on investor protection: the Financial Dispute Resolution Centre implements a more moderate package of reforms

Sunday, 11th September 2017

"The Financial Dispute Resolution Centre (FDRC) has issued its conclusions to its consultation on proposals to significantly expand the jurisdiction of the Financial Dispute Resolution Scheme (FDRS), its alternative dispute resolution scheme for conflicts between financial institutions and their individual customers. The FDRC's consultation met with mixed responses, with respondents from the banking and securities sectors opposing the proposed changes while other respondents, including the Department of Justice and consumer rights groups, supported the suggested reforms. Given this, the FDRC has chosen to implement a more moderate package of reforms than those it originally contemplated (as outlined in our October bulletin)."

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Source: Herbert Freehills Smith LLP
Language: English
Contact: William Hallatt, Gareth Thomas, Dominic Geiser, Hannah Cassidy and Emily Rumble

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