Financial Commission Witnesses A Jump on the Amounts of Awards to Traders in August

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 August 2021.

According to the results, the commission saw new filed complaints increase 9% on a month-to-month basis to 245 in August. And the resolved complaints during the period increased to 241, which is 55% up compared to the last month.

In addition, the Financial Commission saw the compensation sought by traders declined 24% to $741,545 in August, while the compensation awarded to traders jumped 9x to $135,866. The average value of complaints filed in August was 36% lower than July at $3,026.

However, the average resolution time in August was 7.6 days, which is a 17% slowdown compared to last month's 6.5 days. At the same time, a little over 22% of all new complaints filed with the DRC in August were valued between $1,000-$10K+.

During the month, the commission has partnered with Your Bourse​ for the retail brokerage and institutional marketplace looking to optimise their trading experience and results.