Financial Commission and CRFIN Partner for Cross-Collaboration

The Financial Commission, an independent provider of compliance solutions and self-regulatory framework for international Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term, cryptocurrency, binary options and CFD brokers, has announced today a partnership with the Russia-based Center for Regulation in OTC Financial Instruments and Technologies (CRFIN).

CRFIN is a Self Regulatory Organization (SRO) for online forex brokerages in Russia. CRFIN has a strong presence in the Russian Forex industry and has steadily evolved since it was founded in 2010 and was an ideal partner for the Financial Commission in the region.

The partnership announced today between FinaCom LTD and CRFIN will allow members of the Financial Commission, in certain cases, to use services of both organizations. CRFIN and the Financial Commission agreed to coordinate complaints resolution process with each other. In particular, it involves the joint consideration of claims, transfers of claims, as well as mutual exchange of expertise to ensure effective resolution of disputes.

Advising on Russian Developments

In addition, the Financial Commission will provide certain of its services to CRFIN to help develop the existing and future regulatory framework in Russia with regards to solutions already proven effective by the Financial Commission and based on the unique challenges facing the FX landscape in Russia.

Commenting on the announcement, Financial Commission Chairman Peter Tatarnikov said “CRFIN has evolved into a leading SRO in Russia and the agreement with Financial Commission made sense as both organizations strive towards a common goal and serves unique needs of the Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term industry. We believe this synergy with CRFIN will help current and future members in a variety of scenarios.”