Membership Rules
and Guidelines

This organisation functions autonomously, focusing on the resolution of disputes within the financial industry. It operates as a self-governing entity and is not required to register as EDR.

Membership is possible to individuals and institutions engaged primarily in financial services. The organisation’s core rules and guiding principles are defined internally and must be adhered to by all members.

The key goals of the organisation include:

  • Offering clients an impartial dispute resolution service when the involved parties cannot reach agreement on their own.
  • Acting as an unbiased third party to facilitate fair and equitable outcomes.
  • Supporting investors and brokers in resolving conflicts effectively.

The Crypto Monitoring Authority may escalate a case to its Committee if a complaint against a member includes any of the following violations:

  • Breach of the terms set forth in the agreement between the complainant and the member.
  • Violation of commonly accepted practices in financial service delivery.
  • Engaging in discriminatory or unjust treatment toward the complainant.

The appointment of members of the Committee takes place only under the management of the company. The Committee has the following functions:

  • Analysing the information contained in the complaint in accordance with the jurisdiction and rules, as well as subsequently adopted orders.
  • Issuing orders that are consistent with previous decisions.
  • Issuing directives for the execution of decisions in accordance with the orders.

All financial resources are strictly reserved for two purposes: ensuring the continued operation of the company and sustaining the Compensation Fund. These funds are not to be shared among participants under any circumstances.

The company is obligated to make specific contributions to the Compensation Fund, which is established to offer protection to clients in the event of disputes. This fund must be held in a separate, dedicated account. It is supplemented by the contributions and a specific percentage of monthly membership fees paid by members. The amount of compensation is predetermined in advance and if it is exceeded, the company is not obliged to compensate for additional losses.

Compensation amounts are subject to change and are considered temporary. Any updates will be announced through the company’s official website. Should a client file a complaint and the involved member reject the ruling of the Committee, the company may draw from the Fund to compensate. Even after leaving the membership, former members have no claim to the Fund’s assets, as they are owned exclusively by the company. When claims exceed the designated amount, the funds are divided among applicants equally.

Due to the complete independence of the company, participants cannot exert any influence on its processes and decisions.

The Committee is responsible for resolving disputes. Therefore:

  • the review and decision-making processes are under its full responsibility;
  • it is responsible exclusively to the Board of Directors.

The company may audit the compliance of members with its rules on an annual basis.

During the audit, each member undertakes to cooperate fully with the company, giving it every opportunity to inspect their property, employees, etc.

If a broker has a desire to get a membership status, it must demonstrate at least three years of verifiable experience in the financial sector. This ensures that all participants have a solid background in the industry.

Brokers with less than three years of experience can still apply, provided they complete a verification process. This involves submitting references from senior representatives of reputable firms that have been active in the financial field for at least three years.

The organisation offers multiple membership levels, each with distinct features such as commission rates, the volume of cases handled, and other operational criteria.

The company may require reporting data from members at all or certain levels. Such requirements will always be posted on the company’s website.

All brokers, after receiving membership status and being placed on the list of certified service providers, are required to include in each new contract with a client a clause about the possibility of leaving a complaint against them.

Payment of additional fees or commissions may be mandatory for members at all or some levels. The relevant requirements will be posted on the official website.

After receiving a complaint, the company first checks whether the broker in question is a member. If so, the complaint is reviewed in accordance with the standard protocol. If not, it is immediately rejected.

The complaint will be analysed within 10 days, in agreement with the process of dispute resolution. This period is given to the member broker to provide detailed information on the situation.

If the complainant is not satisfied with the response received from the broker, he/she has every right to forward his/her request to the company, which will assign it to the Committee for review.

Each member must prepare a comprehensive Recovery Plan to quickly resume operations after any unforeseen event. Having such a plan in place helps maintain service continuity and reinforces the Member’s reputation. The Recovery Plan should outline:

  • Backup site information and resources.
  • A detailed, step-by-step recovery roadmap.
  • Procedures for handling disruptions caused by third-party providers.
  • Annual testing schedules to validate the plan’s effectiveness.
  • Clear instructions for coordinating with the company.
  • Up-to-date contact details for all relevant third parties.
  • Full specifications for establishing emergency connectivity.