The Financial Commission (FinaCom PLC), an industry-specific dispute resolution service that caters to the financial services industry, today announced that it has approved LQD Limited as the latest addition to its growing membership, according to a FinaCom statement.
Established in 2015, LQD Limited is a Marshall Islands-based brokerage company, which provides online trading services across multiple asset classes for international and domestic clients. The company is looking to expand in 2017 by opening representative offices in Indonesia, Malaysia and Europe.
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The announcement comes after FinaCom introduced a new voice risk disclosure in December, which requires the commission’s members to obtain a written and voice acceptance from each client to acknowledge that he is aware of the relevant risks of relying on or considering investment advice.
Following the acceptance of its application by FinaCom PLC, LQD Limited has obtained membership status which guarantees that clients are under the protection of an international organization and that the services provided to them are of high quality and comply with the standards of the Commission.
FinaCom is an independent international service that guarantees honest and timely resolution of any 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.
As part of the review process, the commission has established a detailed list of points to verify covering system security, capacity, business disaster recovery, and continuity plans, as well as reporting and record keeping, among other fields deemed important for the certification.