The Government enacted the Financial Consumer Protection Act (FCPA) in 2011 to protect the interests of financial consumers and to fairly, reasonably, and effectively handle financial consumer disputes, thereby reinforcing the confidence of financial consumers in markets and promoting sound development of financial markets. The FCPA was effective on 30 December 2011. The Financial Ombudsman Institution (FOI) is established under the provisions of Chapter III and Article 13 of the FCPA as a scheme incorporated foundation to fairly, reasonably, and effectively resolve disputes between financial consumer and financial services enterprise. The FOI is totally funded by the government with NTD 1 billion (€25,000,000) and governed by the Financial Supervisory Commission (FSC). It formally began operating on 2 January 2012. All the services that the FOI provides to financial consumers are free of charge.