FSC participates in JCI Business Forum on "Consumers of Financial Services: Rights and Obligations"

01 Jun 2013

Speaking on the theme "Consumers of Financial Services: Rights and Obligations", Ms Clairette Ah-Hen said that consumers must be conscious of their rights, duties and obligations at all times. The FSC, she explained, has a robust legal framework and ensures that all operators are fit and proper, and added that the Commission adopts a business-friendly approach to promote confidence amongst operators in the sector.

Following the recent cases related to unregulated schemes, the Chief Executive supported the idea of an ombudsperson for financial services which could be a good mediator with the public as people tend to be reluctant to contact the police or regulatory authorities.