How to file a complaint

1. Contact your broker

We require you to contact the broker first to discuss the issue and see if it can be resolved quickly. Before we can consider the dispute, the broker must have been given an opportunity to resolve the dispute with you directly.

2. File a complaint

If the dispute remains unresolved after you have made a complaint to the broker, you can file it with the Financial Commission. You need to fill in the complaint form and describe the problem with all the details and files attached.

Dispute resolution rules

1. File a complaint to the Financial Commission
  1.1. Within 45 days from the time of the incident client can file a complaint to Financial Commission.
  1.2. In accordance with the Commission rules broker has 5 days to confirm the client complaint was received and 14 days to answer.
  1.3. Client can file a complaint to the Commission only if he is not satisfied with broker’s decision or the answer wasn’t made within 14 business days.

2. Analysis of the received complaint
  2.1. The Commission investigates the grounds of the complaint and verifies its validity within 5 business days.
  2.2. Commission representatives will contact the client and the broker within 5 business days to collect all the necessary information and see if there is a chance to settle the complaint during investigation phase.
  2.3. If no settlement opportunity, the Commission starts to consider the complaint.

3. Determination of the guilty party
  3.1. Based on the documents and information that was collected, the Commision will make a resolution on the complaint.
  3.2. In case an additional information is needed, the Commission will request it from the client or broker. Requested party must answer within business 7 days.

4. Decision making by the Financial Commission
  4.1. The Commission's decision is binding on Brokers. The Commission's decision is binding on clients only if they accept it.
  4.2. If the client agrees with decision, he needs to accept it within 14 days. If the client does not respond to the decision within 14 days the complaint is considered as closed.
  4.3. Broker must award the settlement within 28 days of when the decision was reached.
  4.4. If the decision was in favor of the broker, the client must provide a release for the broker within 7 days of when the decision was made and the complaint is considered as closed.