September 1st, 2016: New York & Hong Kong: Financial Commission today announces its 3rd anniversary as a leading independent organization, operated by FinaCom PLC, servicing the online brokerages industry, including foreign exchange (forex), CFDs, binary options, and multi-asset providers.
As part of its growth, Financial Commission is pleased to announce that its compensation fund – which is used to renumerate customers in certain extraordinary circumstances – will be effectively doubled from $10,000 to $20,000, as of September 1st, 2016.
In addition, as part of its commitment to enhance the dispute resolution process further, Financial Commission has taken steps to implement additional requirements for brokers with regard to record-keeping of trading-related information, as updated within Annex C of the member rules and guidelines.
Initially incorporated on July 25th, and launched September 1st 2013, Financial Commission has since continued to expand successfully starting its activity with only 5 member-firms and reaching from then on the number of 24 brokerages and technology firms from across the globe including within Europe, Asia, the CIS countries, and among other regions as part of its international reach by 2016.
Many major brands within the finance industry – including forex – have already become members with Financial Commission, enabling their clients to be entitled to related benefits including protection under the compensation fund.
Peter Tatarnikov, Chairman of Financial Commission, said: “We are pleased to announce these enhancements to our compensation fund and member guidelines, as Financial Commission reaches a new milestone on our 3rd anniversary. These two areas of improvement, reflect our growth, and commitment to enhance our offering, to the members we serve and their underlying clients.”
Financial Commission continues to protect the interests of traders from all over the world for three years now and looks forward to continuing to provide an improved service to members and their clients as part of its mandate and mission statement to serve the industry.