April 15th, 2022, Financial Commission, a leading external dispute resolution (EDR) organization catering to the financial services industry today announces that it has expelled EGMarkets from membership in the organization following a breach of contractual obligations.
In order to maintain membership with the Financial Commission, member firms must strictly adhere to membership rules and all members agree to comply with Financial Commission rules as one of the many prerequisites for initial membership approval and to maintain good standing.
Effective April 13th, 2022, EGMarkets were expelled from membership with the Financial Commission due to repeated violations of the membership Rules and Guidelines specific to the payment of membership dues.
Furthermore, EGMarkets clients will not be eligible for reimbursement from the Financial Commission’s compensation fund as a non-member, since the compensation fund can only be used by clients of approved members, and is subject to the ruling by our Dispute Resolution Committee.
The Financial Commission notes that it will not be able to process any new complaints from EGMarkets clients’, following its expulsion from the Financial Commission as of the date of this announcement and moving forward.
As Financial Commission is an industry-supported self-regulatory organization (SRO) our enforcement of member compliance is reflected entirely within our membership standings where a firm’s integrity and adherence to rules must be strictly upheld in order for membership to be maintained.
For more information about Financial Commission membership requirements, please contact us or visit www.FinancialCommission.org.