Membership Rules and Guidelines

This establishment works independently. The aim of this establishment is to address and settle disputes in the financial market. This Company regulates itself, thus it is not controlled by any available jurisdictions as it does not have to be registered as an EDR.

Individuals, corporations, and firms whose main business activities take place in the financial field can receive the Company membership. It establishes basic rules and guidelines which are binding upon all members.

The main aims of the Company are to:

• Give clients a chance to experience alternative services for dispute settlement in case the Participants cannot do it independently.
• Stand as an experienced third party during investment and trade disputes.
• Provide traders and brokers found on the record of verified members of the Company with swift help when they need to settle disputes.

Any finances cannot be used indirectly or directly for purposes other than the Compensation Fund fulfilment or keeping the Company in the running order. Sharing the funds between the Company’s Participants is prohibited.

The Company is responsible for putting a dedicated sum towards its Compensation Fund, which helps insure the Brokers’ clients in case they file a complaint. It is also liable for opening a separate bank account for said Fund. In addition to acquired assets, the Compensation Fund is also replenished by a predetermined percentage received from membership fees every month. The Fund has the right to pre-establish a maximum sum for financial compensation and not reimburse for damages surpassing it.

The amount of the financial compensation is temporary and can be changed by the Fund at any time. Any future changes to the maximum sum will be announced on the official website.

The Company has a legal right to replenish the client’s losses from the Fund if they have previously filed a complaint and the member has not agreed to the Committee’s decision. Even in the case of membership cancellation, the member does not have the right to assert ownership of the Compensation Fund money since the Company owns it.

In a situation when the pre-established amount of money is not enough for full loss reimbursement, the Fund has the right to redistribute the finances to appease the Applicants’ complaints.

To become a member, each broker should provide the Company with proof of work in the financial field for at least 3 years. Each member of our list has experience in the financial services industry.

In a situation where brokers do not have relevant experience in the financial industry for 3 years, they have to pass a supplementary verification process. Providing the Company with at least two professional references from a reliable company, its executive, shareholder, or senior is required. These individuals should have at least 3 years of experience in said field.

There are several tiers of memberships created by the Company. They may vary in pricing, commissions, the number of complaints available for review, and other supplementary services provided.

The Company has the right to apply additional fees and payments to all or particular membership tiers. The Company is liable for announcing these financial responsibilities to the members with relevant membership tiers by sharing the information on the website.

All or particular membership tiers are responsible for providing the Company with essential analyses. The members will be able to find the relevant announcement on the Company’s website.

The Company has the right to reach out to the self-governing financial committee when analysing the complaint if the Member has done one of these violations on the economic market:

• Abused the rules stated in the terms of the agreement settled between the Member and Applicant related to economic services.
• Did not act in accordance with generally approved standards of high-quality services in the financial field.
• Has committed discriminatory or unjust acts towards the Applicant.

When the Member has passed the verification procedure and secured a place in the list of equitable economic service suppliers, the contract signed between them and their client should include the latter’s right to file a complaint.

Based on the rules stated in the policy of the Company, all Members have to create a plan applied to unforeseen circumstances to swiftly restore their business processes. Such disaster recovery plan will guarantee quick recovery and unceasing work, which will contribute to the Member’s positive reputation.

Business continuity and disaster recovery plan must inform the Company with:

• properties and elements of backup facilities;
• steps of disaster recovery/business continuity plan utilization;
• possible third-party dysfunctions;
• annual testing;
• pre-set rules of transmission with the Company;
• third-party contact data;
• employees and emergency connection details.

The Company has the right to launch an audit of the Member every year. During that period, it will analyse the Member’s compliance with the rules mentioned here.

Upon proceeding with an annual test, the Member is responsible for collaborating with the relevant inspection parties, such as providing them access to the property and its employees.

The Company is an independent entity. Its members do not have an effect on its choices or the process of their acquirement.

A pre-arranged committee responsible for the settlement of the disputes between the participants is:

• fully accountable for announcing complaints;
• accountable only to the Board of Directors.

Having said that, the Board of Directors supervises the Dispute Resolution Committee and the employees working there. The Board takes responsibility for administrating the Company and its staff, including any outside influence on the complaint consideration and decision-making.

Given that the Company is a self-governing entity, its representatives cannot apply to be members of the Dispute Resolution Committee or the Board.

The Company is the only entity that can choose the members of the Dispute Resolution Committee and grant it with the following capacities:

• Validating the complaint sent by a relevant jurisdiction, its analysis, coming out with a suitable solution based on the before-created rules, and deciding on future Orders.
• Issuing the Orders when they are relevant to the previous decision.
• Making an Award to execute the decision and follow the Order.

Rules mentioned here are applicable to the current forces, competencies, and liabilities of the Committee. The Board is the only entity that has the right to add or dismiss obligations of the Committee.

Upon receiving a complaint, the Company has to go through a certain verification procedure to ensure that the Applicant is a client of the broker with a membership. When that is finished, the complaint is analysed through the internal dispute settlement process. If the verification procedure proves otherwise, the complaint is automatically dismissed.

Based on the steps of the dispute resolution process, complaint analysis does not take more than 10 days. The Member has to provide the Applicant with a detailed reply to the complaint within the bounds of that period.

If the Applicant is not content with the response from the broker, they can launch the process of a formal complaint to the Company, with the latter redirecting it to the Dispute Resolution Committee.