Wednesday, March 4, 2009

Dispute Resolution through FIDREC

If you have lodged your complaint to FIDREC, please read the following advisory from MAS

You have probably been asked to complete a questionnaire to provide the facts on your complaint. This puts the onus on the investor to justify the claim.

As the complainant, you can ask FIDREC to get the financial institution's representative to complete a questionnaire based on the attached questionnaire. This will provide information for the adjudicator to decide on any possible mis-selling of the product.

I have asked the Consumer Association to suggest to FIDREC that this questionnaire should be used. I have not heard about any decision on this matter. 

As you investor, you can ask FIDREC to get the answers to this questionaire, in the interest of fairness and natural justice. I hope that you find this questionnaire to be useful to support your complaint,