Clients Questions
Crypto Regulatory Affairs Commission is a self-control and non-jurisdictional entity whose intention is to support brokerage firms and their customers in cases where they are faced with irreconcilable differences. When clients are dissatisfied with their financial services providers, they can receive assistance from the Company. However, this statement only applies to cases where clients have used the services of brokers with membership status. The Company’s intent is to offer both parties an independent assessment of the situation which caused the conflict.
The Company has never set and does not intend to set the goal of controlling the activities of brokers or interfering with their legitimacy. Its aim is to resolve conflicts between brokers and their customers in order to achieve a fair resolution. Clients are obligated to check the broker’s membership and regulatory status before filing a complaint.
The Company’s primary goal is to create a single Committee of financial experts who adhere to high standards of integrity and professional responsibility. Its general function is to review and analyse client complaints in accordance with existing regulations and issue final decisions that are fair to both parties, taking into account all current circumstances. Another goal of the Company is to conduct the complaint review process more quickly than traditional financial regulatory bodies, while maintaining a high level of accuracy.
According to Crypto Regulatory Affairs Commission rules, from the moment a broker receives membership status, it is required to include a Complaint Contact and Internal Dispute Resolution (IDR) procedure in all its client agreements.
Upon receiving a complaint, the broker is required to take the following steps:
- Confirm receipt.
- When possible, deliver compensation.
- If compensation is denied, explain.
The broker should be aware that in the latter case, a client dissatisfied with the outcome can forward their complaint to Crypto Regulatory Affairs Commission.
A complaint can only be submitted against brokers who currently hold an active membership. If a broker’s membership has expired, been suspended, or is listed as “under review,” clients are not permitted to file a complaint through this system. Instead, they should reach out to the relevant financial regulator in their jurisdiction for further assistance.