The Financial Commission (FinaCom), an independent self-regulatory compliance specialist for the financial services industry, welcomes its newest member firm today, adding Starfish Markets Limited (Starfish FX) to its growing membership, according to a FinaCom statement.
Starfish FX is managed under the group Starfish Markets Ltd., which is a comprehensive provider of foreign exchange (FX), contracts-for-difference (CFD), and Binary options products. The group operates out of its main office in New Zealand under the regulatory jurisdiction of Vanuatu in Oceania.
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The group is the latest constituent to FinaCom’s membership, having gained official status as a member of the organization with immediate effect. The Financial Commission exists as an industry-focused dispute resolution service, with its Dispute Resolution Committee (DRC) acting as its paramount regulatory body. The DRC is staffed by executives from leading companies in the financial services industry with the aim of resolving trader-broker conflicts.
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According to Peter Tatarnikov, FinaCom’s Chairman, in an exclusive statement to Finance Magnates on the new membership: “It is great to see more and more regulated brokers join Financial Commission. This is the proof that we provide professional and expedited mediation service that is affordable, comfortable and effective by all means for both clients and brokers. We have labored extensively to extend our services in many languages and having member firms from all many countries.”
“We offer a number of products that we want to continue to build clients’ trust around and we believe that by joining the Financial Commission, we show customers our level of commitment in helping to ensure they receive fair treatment from us by having a third-party that they can go to if any disputes arise that we are unable to resolve,” noted Michael Townsend, Starfish FX’s Chief Marketing Officer (CMO) in an accompanying statement.
“As people explore foreign exchange trading for the first time, we believe that providing them with additional options and education can only be a benefit, and we believe this step we have undertaken helps meet that objective in addition to what we have already established internally at StarfishFX,” he added.
The announcement is the latest by FinaCom since the addition of Seychelles-registered binary options broker Olymp Trade (operating under the mantle of Smartex International Ltd.). The list of members has grown steadily throughout the latter part of the 2015 year and into 2016 as well.