October 22, 2018, The Financial Commission, a leading independent member-driven external dispute resolution (EDR) organization for international online brokerages that participate in global foreign exchange (forex), derivatives, and CFD markets is pleased to announce its recent successful participation at the 3rd annual International Conference on the Protection of Investors Rights, which took place in Moscow, Russia on October 2-3, 2018.
The event took place within the World Investor Week 2018, which promotes investor education and protection and this year was hosted by the Russian Federation. The annual conference brought together industry professionals from the Russian securities, Forex, microfinance, and digital currency markets to discuss the issues of the day regarding investor rights and protections in the Russian Federation.
At the gracious invitation of The Federal Foundation for the Protection of Investors and Shareholders rights, Financial Commission Chairman, Peter Tatarnikov joined session 3 of the conference: Best practices of Eurasian Economic Union Member-States over-the-counter market regulation. Together with other members of the panel, including representatives from the Association of Forex Dealers (AFD), the sole accredited SRO uniting all licensed Forex brokers in Russia, the Central Bank of Russia, National Bank of Belarus and the State Duma of the Russian Federation, Peter elaborated on effective dispute resolution process established by the Financial Commission with getting huge popularity around the globe, as well as commented on proposed changes to Russian FX legislation.
The panel also reviewed proposed changes to maximum leverage allowed for retail FX trading in the country, including its benefits and shortfalls. Participants agreed that lowering leverage along with expanding the available product set is a reasonable compromise at this early stage of development of the regulated Russian FX market. An important topic of discussion came from the panel audience regarding the issue of Russian FX traders still preferring to open accounts in offshore jurisdictions due to the favorable trading conditions available in other countries. On this issue, the panel voiced different points of view, though a consensus was reached that the regulated FX market in Russia must become competitive in order to attract domestic investors.
The Financial Commission continues its autumn conference schedule in November with participation at the Magnates London Summit in London on November 13-14th. We invite our current broker members and interested parties to contact us at [email protected] to arrange a meeting to discuss our expanding services, self-regulatory initiatives and dispute mediation.