Broker Regulator is an independent, non-profit, non-governmental organization dedicated to the regulation of financial markets and providing its participants with official licenses, certificates and other authorized documentation.
1.1. Our Organization operates in strict compliance with existing Russian and international legislation, as well as with the legal customs generally accepted in the financial markets.
2.1. The main objective of Broker Regulator is to maximize the transparency, openness and reliability of financial markets, including recently developing e-currency and cryptocurrency market, as well as to attract investments through ICO.
2.2. We are professionally engaged in resolving disputes, discrepancies and other conflict situations between financial organizations and other market players, regardless of their jurisdiction.
2.3. We form compensation fund for the clients of companies that have a license of Broker Regulator.
2.4. We organize independent financial audits of banks, credit organizations, brokerage companies and other participants in financial markets.
2.5. We provide information and analysis services and access to various legal information.
3.1. In order to obtain a license Broker Regulator, the brokerage company is required to apply in a prescribed manner and to submit necessary authorization documents.
3.2. The application is carefully reviewed by the Committee within three working days.
3.3. In case of a favorable decision and after payment of necessary contributions to the brokerage company, a license is granted.
3.3.1. If the application was incorrect or the brokerage company found errors or violations, it is given back to the applicant for its correction. Once the breaches are resolved, the regulator may reconsider the application again.
4.1. The brokerage company or any other member of Broker Regulator has the right to recall the received license. The relevant application is processed for this purpose. The payments made are not returned.
4.2. Brokerage companies and other participants of Broker Regulator may revoke licenses if they are brought to justice for violations of these rules and existing legislation.
4.3. Once a decision about termination of the membership of Broker Regulator has been taken, the license will be automatically set to expire.
5.1. Brokerage companies and other members of Broker Regulator are obliged to comply with the rules established by these Regulations and other regulatory instruments adopted by the regulator.
5.2. Brokerage companies and other members of Broker Regulator are obliged to provide information on changes in their organizational and legal structure in a timely manner.
5.3. Members of Broker Regulator are prohibited from doing anything that in any way may adversely affect the activity or reputation of the regulator.
5.4. Brokerage companies and other members of Broker Regulator should pay their dues on time and in full and make other mandatory payments.
5.5. Brokerage companies and other members of Broker Regulator are obliged to submit detailed financial reports on their own activities.
5.6. The regulator reserves the right, if there are sufficient grounds, to perform an exception review or to organize an independent audit of its members.
5.7. Brokerage companies and other participants of Broker Regulator are entitled to receive qualified and comprehensive assistance from the regulator in optimizing work and resolving other possible issues.
5.8. Brokerage companies and other participants in Broker Regulator have the right to inquire into any matters in any way related to the regulator's activities.
6.1. Brokerage companies and other participants of Broker Regulator are fully responsible for violating the rules established by these regulations and other regulatory instruments adopted by the regulator.
6.2. Fine sanctions proportional to seriousness of the offense may be imposed on breachers.
6.3. In the case of a malicious or repeated violation of the regulations and requirements of regulator Broker Regulator, the license may be revoked from the brokerage company by decision of arbitration or committee without the right to challenge the decision
6.4. Decisions on attracting brokerage companies and other participants of Broker Regulator shall be taken by a special committee or arbitration after careful and comprehensive consideration of all the circumstances of the dispute.
6.5. The decisions taken are bound and are not subject to appeal.
7.1. Disputes between brokerage companies and their clients are handled by independent arbitration.
7.2. The basis for the consideration of the dispute is the fulfilled application and the description of the conflict situation provided by the client. As justification the documents, printouts and other evidence are admissible.
7.3. A brokerage company has the right to provide its own representative to defend its rights and for argumentation of its position.
7.4. Independent arbitration takes the decisions collectively.
7.5. The decisions taken are bound and are not subject to appeal.
8.1. The participants of Broker Regulator, through their registration fees and regular financial contributions, form a compensation fund, the funds of which may be designated to provide the financial liability of the regulator members for the obligations arising from the losses of the clients of brokerage companies because of poor service delivery.
8.2. The funds of the Compensation Fund are accumulated in the regulator's accounts and are not used to meet the current needs and other aspects of the Organization's activities.
8.3. Regular payments of participants are the source of the Compensation Fund. In addition, the brokerage companies may, upon their own initiative, make additional contributions to the Compensation Fund.
8.4. In the event of a decision on damages compensation and funds provision to clients of the Broker Regulator brokerage company, the funds shall be transferred to the specified requisite details of the injured party within five working days.
9.1. The regulator reserves the right to make amendments and to supplement these rules.
9.2. The regulator undertakes to inform the brokerage companies and other members of the organization about all changes in advance.
9.3. These rules have been approved by the Board of Directors and shall enter into force upon official publication on the site. These regulations are bound for fulfillment in its entirety.
The Broker Regulator seeks to build relationships with brokerage companies that are members of our Organization on the basis of mutual trust and respect. We are always open to a dialog, proposals and to compromise in dealing with various dispute situations. On this page, we are considering basic rules that are mandatory for each member of Broker Regulator.
In order to obtain the license of our regulator, the brokerage company must fully comply with the whole set of different requirements and submit an application by providing a set of documents that include:
-an application in a prescribed pattern;
Existing certificates and licenses for financial services performance in accordance with the norms and requirements of existing Russian and international legislation;
-a copy of the statute documents;
-samples of the documents based on which the relationship between the brokerage company and its clients is legally regulated.
Once the package of documents has been provided, the brokerage company must efficiently:
-to conclude a contract for certification implementation;
-to pay for the services provided;
-to make a one-time contribution to the compensation Fund;
-make other necessary payments.
Please note, that if a non-conforming application is granted, it may be returned to the brokerage company in order to resolve the identified defects or errors. We will give reasons for each denial. This approach offers an opportunity of maximizing the time of candidates for membership in Broker Regulator.
Broker Regulator is the most responsible on issuing licenses, certificates and other approval documents. The experience gained and fine-grained examination of candidates make it possible to exclude completely the risk of accession into organization of the brokerage companies that do not comply with the requirements. Broker Regulator is an independent organization, so we can fully guarantee the impartiality of each candidate's verification.
In accordance with the established rules:
-the inspection shall be performed within 3 working days from the date of receipt of the application and payment of certification services. Please note, that in some cases this period may be increased. We normally inform the candidates in a timely manner;
- we collect data from all open sources about the activity of a brokerage company that claims membership in our Organization. The information received is assessed against generally accepted principles and standards of Broker Regulator;
-we take decisions on issue approval documents or provide a reasoned denial. If the discrepancy is resolved, the brokerage company has the right to reapply for a license of Broker Regulator;
-give authorization documents in electronic form and send paper copies to the address given by the applicant.
The above actions are carried out by an independent committee consisting of a solid team of experts and specialists in the field of financial markets. All decisions are taken in a collegial way, which allows eliminating the risk of personalism.
Brokerage companies that are members of the regulator are required to:
-provide information on changes of organizational and legal structure of the company in a timely manner;
-provide comprehensive reports of financial activities once a year;
- fully conduce to resolve conflict situations and disputes between a brokerage company and its clients;
-not to act in any way that may adversely affect the operation or reputation of the regulator;
-to pay membership fee on time and make other mandatory payments;
-conduct activities strictly in accordance with the legislation and the regulations adopted by the regulator.
In the case of a malicious or repeated violation of the regulations and requirements of regulator, the license may be revoked from the brokerage company by the decision of arbitration or committee without the right to challenge the decision. In addition, in some cases such a company may be included in the official blacklist brokers.
Brokerage companies are entitled to terminate their membership in Broker Regulator. In the event of the absence of debt and the fulfillment of all existing obligations after the relevant request, the brokerage company is excluded from the list of participants in the regulator. Since the moment of taking a decision, the license sets to expire. Note that, if necessary, a reissue of the license is possible once the procedure described above has been passed.
A brokerage company gets a whole range of important benefits by becoming a member of our organization. Among them, the main ones are:
1. Confirmation of reliability. The availability of a license Broker Regulator underlines the professionalism and impeccable reputation of the brokerage company in the eyes of its clients and partners.
2. Friendly settlement of disputes. We provide qualified and comprehensive assistance in resolving conflict situations between clients and a brokerage company.
3. Openness. The voluntary nature of certification confirms the transparency of the brokerage company.
4. Assistance. We promote the development of your brokerage company and bringing it into strict compliance with existing international and Russian requirements and standards.
5. Legal support. We provide access to the broadest legal and regulatory base and our own developments in the field of regulation of financial markets.