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The Government welcomes the Financial Dispute Resolution Centre's (FDRC) re-appointment of the Chairman, Professor Teresa Cheng Yeuk-wah, and re-appointment of Mr Brian Fung Wei-lung and appointment of Mr Tong Hon-shing as non-official Directors, to the Board of the FDRC on the nomination of the Secretary for Financial Services and the Treasury. Their terms will be for two years with effect from March 1, 2016 to February 28, 2018.
A government spokesman said today (February 29), "We welcome Professor Cheng and Mr Fung to continue serving on the Board of the FDRC and would like to express our sincere gratitude to the retiring Director Mr Jason Yeung Chi-wai for his invaluable contributions to the Board over the past two years."
The FDRC administers in an independent and impartial manner a financial dispute resolution scheme to provide individual customers with an alternative avenue which is independent and affordable for resolving monetary disputes with financial institutions by way of "Mediation First, Arbitration Next". The FDRC is governed by a Board of Directors comprising the non-official Chairman, four non-official members, three representatives, one each from the Financial Services and the Treasury Bureau, the Hong Kong Monetary Authority and the Securities and Futures Commission, and the Chief Executive Officer of the FDRC.
Ends/Monday, February 29, 2016
Issued at HKT 12:00
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