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Home > Catalogue > Consumer Financial Dispute Resolution in a Comparative Context
Consumer Financial Dispute Resolution in a Comparative Context


  • 8 b/w illus. 7 tables
  • Page extent: 279 pages
  • Size: 228 x 152 mm
  • Weight: 0.59 kg

Library of Congress

  • Dewey number: 346.07
  • Dewey version: 23
  • LC Classification: K2405.B35 A43 2013
  • LC Subject headings:
    • Arbitration and award
    • Financial services industry--Law and legislation
    • Dispute resolution (Law)
    • Consumer protection--Law and legislation
    • Arbitration and award

Library of Congress Record

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 (ISBN-13: 9781107028715)

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Nearly all major global financial centres have developed systems of consumer financial dispute resolution. Such systems aim to assist parties to resolve a growing number of monetary disputes with financial institutions. How governments and self-regulatory organizations design and administer financial dispute resolution mechanisms in the context of increasingly turbulent financial markets is a new area for research and practice. Consumer Financial Dispute Resolution in a Comparative Context presents comparative research about the development and design of these mechanisms in East Asia, North America and Europe. Using a comparative methodology and drawing on empirical findings from a multi-jurisdictional survey, Shahla F. Ali examines the emergence of global principles that influence the design of financial dispute resolution models, considers the structural variations between the ombuds and arbitration systems, and offers practical proposals for reform.

• Provides a comprehensive review of dispute resolution approaches, thereby helping the reader to gain familiarity with the spectrum of options available to address consumer financial disputes • Identifies best practices in financial dispute resolution through comparative analysis of mechanisms around the world • Synthesizes findings in the form of law and policy recommendations


Introduction; Part I. Principles: 1. Principles of consumer financial dispute resolution in a global context; Part II. Ombuds Systems: 2. Financial dispute resolution in the United Kingdom; 3. Financial dispute resolution in Australia; 4. Financial dispute resolution in Japan; Part III. Arbitration Systems: 5. Financial dispute resolution in the United States; 6. Financial dispute resolution in Singapore; 7. Financial dispute resolution in Hong Kong; 8. Emerging systems: financial dispute resolution in China; Part IV. Practice: 9. Synthesizing lessons learned and policy recommendations; Conclusion: the way forward.


'This book provides a wide-ranging comparative assessment that will be of great value to anyone analyzing or designing dispute resolution systems for consumer disputes. The detailed descriptions of arbitration and ombudsman mechanisms in six countries, as well as Dr Ali's recommendations, illuminate the continuing evolution of global norms for dispute resolution.' Stephanie E. Smith, Stanford Law School, California

'This is a valuable primer to the growing universe of consumer financial arbitration, particularly with its emphasis on countries in the Asia Pacific region.' Michael Hwang, Michael Hwang Chambers, Singapore

'This comprehensive volume breaks new ground in surveying and comparing multiple dispute resolution systems across world regions against a backdrop of carefully outlined principles including fairness, impartiality, transparency and consistency. Well-written, thoughtful and empirically supported, it is a 'must-read' for scholars, practitioners and end-users of commercial dispute resolution. It also productively outlines a way forward for practice in this area informed by best practices from a range of contexts.' Michelle LeBaron, University of British Columbia

'Anyone interested in the intersection of consumers, monetary disputes with financial institutions, and turbulent financial markets must read this book. It provides an articulate and thoughtful comparison of processes, from mediation and conciliation to ombudsmen, arbitration and litigation, taking us around the world to the UK, Australia, Japan, the US, China, Singapore and Hong Kong to look at differing systems of dispute resolution.' Lela P. Love, Director, Kukin Program for Conflict Resolution and the Cardozo Mediation Clinic, Benjamin N. Cardozo School of Law, New York

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