Understanding the Dispute Resolution Fund (DRF)

Understanding the Dispute Resolution Fund (DRF)

The Dispute Resolution Fund (DRF) is a dedicated trust and custodian facilitator designed to serve as a protective shield for our registered members. This fund operates as an insurance policy, offering financial security in cases where members encounter challenges in resolving disputes with their clients. To ensure transparency and accountability, the DRF is maintained in a separate trust account.

How the DRF Works:

  • The DRF comes into play when a registered member faces difficulties in resolving a dispute with their client.
  • The fund is exclusively funded by the Financial Dispute Resolution Commission, with 20% of annual membership fees allocated to support the DRF.
  • It is important to note that the DRF is intended to cover dispute resolution costs, and its coverage extends up to $20,000 or 15% of the disputed fund amount, subject to FDRC UK’s discretionary decision per client. The exact coverage depends on the types of memberships held.

Our Commitment to Protection:

FDRC UK is committed to safeguarding the interests of both our registered broker members and their clients. Upon successfully becoming members and fulfilling the necessary application and annual fees, our specialists at FDRC UK will engage in one-on-one consultations. These consultations encompass essential aspects of external dispute resolution (EDR), environmental, social, and governance (ESG) practices, as well as exploring opportunities for commercial collaboration.

This proactive approach ensures that our members are not only entitled to our services but also equipped with the knowledge and support needed to navigate the intricacies of dispute resolution, ESG principles, and the broader financial landscape. We are dedicated to providing comprehensive protection and assistance, both for our members and their clients.

Rest assured that with FDRC UK and the Dispute Resolution Fund, you have a reliable partner dedicated to your financial well-being and security.

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