Financial Commission Reports Improved Resolution Times for Q3 2022

The Financial Commission, a leading independent external dispute resolution (EDR) organization for the retail trading industry, has reported the amounts of submitted complaints and other key metrics for Q3 2022. The organization experienced a rise in new and resolved complaints, amounts sought from non-member brokers, average complaint values and complaints ruled in favor of traders in the 3rd quarter of the year.

Key highlights for 3Q vs. 2Q 2022:

• ​New filed complaints up by 5%

• ​Resolved complaints improved by 4%

• ​Compensation sought from all brokers rose 51%

• ​Compensation awarded increased 36% to $79,494

• ​Complaints ruled in favor of traders up 57% QoQ

• Average resolution time improved to 4.6 days

Key Takeaways

• ​Healthy uptick in newly filed complaints for 3Q 2022

• ​Solid growth in compensation sought from all brokers to $3,451,466

• ​Increase of rulings in favor of clients and total awarded compensation

• ​Complaints valued between $1-10K increased by 25%

• ​Complaints resolved in 4.6 days on average, 11% faster QoQ