What is the Dispute Resolution Fund and how does it work?

The Dispute Resolution Fund is a fund that acts as an insurance policy for members. This fund will be held in a separate bank account and will only be used shall members fail to resolve a dispute with the member’s client. The Dispute Resolution Fund is financed by the Financial Dispute Resolution Commission through allocation of 10% of the monthly membership dues to the fund.

The Dispute Resolution Fund will only cover dispute resolution costs up to $10,000 per client of an A-Category Member and up to $5,000 per client of a B-Category Member. This fund will only be used for a dispute that has been made by the Financial Dispute Resolution Commission, a member’s entire client base are not entitled to a pay-out from the Dispute Resolution Fund. In case of shortage of funds due to number of unsatisfied cases by dealer-member, current fund balance will be equally distributed among all complainants.

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