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David Thomas
david_thomas@hotmail.co.uk
David Thomas
david_thomas@hotmail.co.uk
ADR in financial services WHAT ADR bodies do WHY ADR is a good idea - - PowerPoint PPT Presentation
ADR in financial services WHAT ADR bodies do WHY ADR is a good idea - - PowerPoint PPT Presentation
David Thomas david_thomas@hotmail.co.uk Alternative Dispute Resolution ADR in financial services WHAT ADR bodies do WHY ADR is a good idea HOW ADR bodies are structured David Thomas david_thomas@hotmail.co.uk Alternative Dispute
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SLIDE 3
David Thomas
david_thomas@hotmail.co.uk
Alternative Dispute Resolution
free to consumer informal enquiries mediation investigation and decision feedback cross-border networks all of these = financial ombudsman
SLIDE 4
David Thomas
david_thomas@hotmail.co.uk
Alternative Dispute Resolution
WHY
ADR is a good idea
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David Thomas
david_thomas@hotmail.co.uk
Alternative Dispute Resolution
Retail financial services depend on consumer trust in financial products and providers
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David Thomas
david_thomas@hotmail.co.uk
Alternative Dispute Resolution
Consumer trust supported by
financially sound providers (regulation) good conduct by providers (regulation/code) compensation if provider treats them badly (ADR) compensation if provider becomes insolvent (guarantee fund) consumer confidence (financial education)
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David Thomas
david_thomas@hotmail.co.uk
Alternative Dispute Resolution
ADR benefits everyone
Consumers informal, impartial advice, redress Providers specialist, consistent, vindicate Regulators freed up, comparable data State reputation, competitiveness
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David Thomas
david_thomas@hotmail.co.uk
Alternative Dispute Resolution
HOW
ADR bodies are structured
SLIDE 9
David Thomas
david_thomas@hotmail.co.uk
Alternative Dispute Resolution
independence to ensure impartiality set up by state/regulator/industry initiative, confidence sectoral or combined accessibility and efficiency funding grant, levy, fees or levy + fees
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David Thomas
david_thomas@hotmail.co.uk