The Financial Commission (FinaCom PLC) has brought in the ex-CEO and chairman of Alpari Group, Vladimir Verbitskiy, to join the independent regulator as the newest member of its Dispute Resolution Committee (DRC).
As Finance Magnates reported last week, Verbitskiy has parted ways with Alpari, ending nearly a three-year tenure, during which he held a variety of top positions at the retail FX broker.
Verbitskiy has been involved in the financial services industry for nearly two decades, with a wide range of roles held in leading positions. Most recently, he worked as a business advisor to Alpari’s owner, Andrey Dashin, until he took over as CEO in 2017. Verbitskiy succeeded Olga Rybalkina, the CEO of FXTM at the time, and Boris Shilov, who held the position since 2002.
Prior to that, Verbitskiy worked as a senior vice president of business development & sales at Alfa-Forex. He also spent more than nine years as head of CIS market and board member at Forex Club. Earlier in his career, which dates back to 2001, he worked at Russia’s state oil giant Rosneft.
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Financial Commission expands coverage to crypto
“I am pleased with my experience at Alpari – during our time at the Company we have achieved all the key goals set for management by shareholders. The work of the CEO and Board Chairman of the Alpari Group, which has been in existence for 20 years, is complex and responsible, especially given that it is one of the industry’s best-known and respected brands, offering its services to customers from dozens of countries around the world,” Verbitskiy told Finance Magnates.
FinaCom is an independent international service that guarantees resolution of disputes with the aim of resolving trader-broker conflicts. All clients of the Financial Commission’s members are protected by the Compensation Fund, which acts as an insurance policy.
In addition to providing dispute resolution and certification services to the participants of the forex and derivatives markets, the Financial Commission also extended its coverage to the crypto community and blockchain startups seeking to launch initial coin offerings (ICOs).
Commenting on the appointment, Financial Commission Chairman Peter Tatarnikov said: “We are pleased to welcome such an experienced colleague to our panel of experts and are delighted that Vladimir will be assisting us in reviewing and resolving cases. His experience will help us judge trade related complaints, which are very important today as traders seek the best available market prices and speedy execution of trades.”