Government welcomes appointments to Board of Financial Dispute Resolution Centre
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The appointments and re-appointments are for a term of two years. Mr Yih's term started on January 12, 2018, while those of Mr Cheung and Mr Tong will start on March 1, 2018. The term for Mr Leung will begin on March 31, 2018.
A government spokesman said, "We welcome the new Chairman and Board of Directors of the FDRC, and express our heartfelt thanks to the former Chairman, Professor Teresa Cheng Yeuk-wah, and the retiring Director, Mr Brian Fung Wei-lung, for their contributions. Over her six-year tenure as the Board Chairman, Professor Cheng played an instrumental role in the smooth operation of the FDRC and in enhancing the profile of the Financial Dispute Resolution Scheme. This is important to maintain Hong Kong's status as an international financial centre. We are confident that her successor, Mr Yih, will continue to guide the FDRC in its role as a leading provider to help resolve financial disputes."
The FDRC administers in an independent and impartial manner a financial dispute resolution scheme to provide customers with an alternative avenue which is independent and affordable for resolving monetary disputes with financial institutions primarily by way of "Mediation First, Arbitration Next". It is governed by a Board of Directors comprising a non-official Chairman, four non-official members, and one representative from each of the Financial Services and the Treasury Bureau, the Hong Kong Monetary Authority and the Securities and Futures Commission, as well as the Chief Executive Officer of the FDRC.
Ends/Friday, January 12, 2018
Issued at HKT 18:00
Issued at HKT 18:00
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