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Screenshot of a breaking news alert e-mail from Q2 2017
New Zealand’s Financial Dispute Resolution (FDR) scheme earlier today published its August Newsletter, shedding some extra light on the issues and challenges it faced during this month and also during the first 12 months of its operations as an approved scheme.
One of the worrying trends that FDR employees witness is the rise of the so-called unreasonable conduct by complainants. It appears that a growing percentage of those who lodge complaints feel so disproportionately passionate about their cause, that get uncompromising and cause undue disruption.
According to the FDR, such complainants often display narcissistic or histrionic personality traits, meaning that they excessively seek attention and continue lodging the same claim (with subtle variations). To respond to such claimants, the offices have beefed up security, but the general rule followed is to SMILE.
The FDR also revealed some extra data, in addition to earlier highlights about complaints received during the first year of its operations. The full data once again shows that the bulk of complaints (80% of the total) concerned online Forex platforms, whereas 83% of these complaints came from overseas locations, the leaders being Russia and China.
In New Zealand, residents of Auckland were most active, generating 55% of the complaints that were received from New Zealand.
To view FDR’s August Newsletter, click here.