FDRC — how we decide

Determinations

The FDRC panel may:

1. Uphold the complaint,
2. Partially uphold the complaint,
3. Dismiss the complaint, or
4. Remit the complaint to the OFC for further investigation.

Redress the FDRC may order

Where a complaint is upheld (in whole or in part), the FDRC may direct one or more of the following:

1. Compensation for financial loss;
2. Data correction — the LFI must correct inaccurate records;
3. Contract voided — the disputed contract or clause is treated as void;
4. Contract varied — terms are amended to a fair position;
5. Referral out to another regulator or enforcement body;
6. Apology in writing to the complainant;
7. Other appropriate action in the circumstances.

Appeal rights

Either party may appeal an FDRC determination to the High Court within 28 calendar days of the date of the determination.