Hong Kong’s FDRC Taps Blackwell CEO Gary Cheung as Director

Hong Kong’s FDRC Taps Blackwell CEO Gary Cheung as Director

SFC-regulated multi-asset brokerage Blackwell Global Hong Kong today announced that ‎its CEO Gary Cheung has been named as Director of the Financial Dispute Resolution ‎Centre (FDRC) for a term of two years, effective March 1, 2018.‎

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Founded in 2012, the Financial Dispute Resolution is part of Hong Kong ‎government’s efforts to provide customers with a venue to air their ‎grievances against bankers and brokers. The aim of the FDRC is to provide a ‎quick and cost-effective means of resolving disputes between consumers ‎and financial institutions. Namely, the FDRC allows individuals to refer their disputes that ‎claim for a monetary sum of up to $500,000.‎

Mr. Cheung’s appointment is part of a comprehensive nomination that was made ‎in alignment with the FDRC’s recent overhauls. He has been in the financial ‎services sector for more than three decades, and brings immense wealth of ‎expertise in managing SFC-regulated companies. His career encompasses senior roles including the CEO ‎of Tung Shing Securities (Brokers) Limited.

Prior to Blackwell, Cheung has held several senior management positions in other notable stocks and securities institutions such as Sun Hung Kai & Co, Ltd. and the Hong Kong Securities Institute.

Commenting on his appointment, Gary Cheung said: “Dispute resolution is crucial ‎for an international financial hub such as Hong Kong. The dispute arises due to ‎the diversity and complexity of financial products, as well as investors’ lack of risk ‎and product knowledge. The recognition of the rights of participants and the ‎availability of an avenue for resolution should there be a conflict becomes even ‎more paramount. I’m honoured to be part of the organisation, and I look forward ‎to contributing towards a safer finance industry.”‎

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