Unsupported/Abandoned - Complaint regarding the financial regulator website financialcommission.org

acertablet

Sergeant
Messages
293
AsstModerator Note: This claim against the Financial Commission is unsupported and has been abandoned by the person who made it. I emailed Acertablet about this. My mail included a letter from the Financial Commission as well as a personal note from me. I asked him to return to this thread and ask hard questions. He said he was fully convinced that it was a scam and declined to return. I then sent a formal invitation to return after the Financial Commission's representative posted. Acertablet still did not return.

This thread is now being moved to the Resolved Issues folder.

apparently there are scammer created a fake financial regulatory website
Code:
https://financialcommission.org
- scammer use the name as "Financial Commission", this could be mistaken as Belize's real financial regulator
- the scammer website also has company name & address in HK & UK

(HK)
CR No. : 1942825
Company Name : FinaCom Plc Limited
Active Status : Live

(UK)
FINACOM MANAGEMENT LTD
Company number 09948250


Belize real International Financial Services Commission website
Code:
https://www.ifsc.gov.bz/
Hong Kong real Securities and Futures Commission website
Code:
https://www.sfc.hk/web/EN/
UK real Financial Conduct Authority website
Code:
https://www.fca.org.uk/
 
Last edited by a moderator:

bigbax699

Corporal
Messages
35
thanks for informing us of this operation. Hopefully we can deter some people away from getting scammed
 

Scam Reporters

Master Sergeant
Messages
471
apparently there are scammer created a fake financial regulatory website
Code:
https://financialcommission.org
- scammer use the name as "Financial Commission", this could be mistaken as Belize's real financial regulator
- the scammer website also has company name & address in HK & UK

(HK)
CR No. : 1942825
Company Name : FinaCom Plc Limited
Active Status : Live

(UK)
FINACOM MANAGEMENT LTD
Company number 09948250


Belize real International Financial Services Commission website
Code:
https://www.ifsc.gov.bz/
Hong Kong real Securities and Futures Commission website
Code:
https://www.sfc.hk/web/EN/
UK real Financial Conduct Authority website
Code:
https://www.fca.org.uk/
re this Finacom Management ltd ...


2 guys, US citizens, Alexey Pavlenko and Peter Tatarnikov.

This Tatarnikov has an interesting past with the US NFA:


300k usd fine in 2012 is probably not a good recommendation for current activities...

Moreover, their HK entity activities listed here in summary:

don't really speak well for themselves. See the broker brands they 'authorized' as safe.
 
Last edited:

Financial Commission

Representative of the Financial Commission
Messages
8
Greetings everyone!

My name is Nikolai; I am the COO of the Financial Commission. I am writing here because I believe there has been a misunderstanding in this thread regarding what our organization actually does and that it is actually not a scam in any way.

I know that there are questionable websites created online from time to time to mimic actual regulators and government agencies in order to conduct fraudulent activity, so I understand how this situation could have come about in this case and we do our best to try to inform the public about such frauds.

Likewise, as you noted, I can see how our name - Financial Commission can seem similar and be mistaken for Belize’s regulator and perhaps others. Yet, as you probably know, there are a lot of similar sounding regulatory agencies around the world, including more than one FCA, FSAs both in Seychelles and Labuan, etc., which is one of the reasons why we provide traders with a list of authentic regulators on our website as well.

The reply in the thread concerning Finacom Management LTD in the UK relates to our official registered trademark in Europe. As you can see from the publicly listed information this company owns our trademark and we list this information in the footer of our website because there is nothing to hide.

While I can’t speak for or against any of our member brokers, I wanted to point out that we require all of our broker-members to include in their customer agreements a mandatory dispute resolution process through the Financial Commission. The dispute is heard in accordance with our Rules and Guidelines and complaint resolution services are completely free for traders.

If a customer is not happy with the outcome of the dispute, he or she is free to proceed with bringing his complaint to the relevant judicial authority. The Financial Commission also maintains a Compensation Fund (funded by membership fees) from which the Financial Commission has covered the payout of customers' complaints if a broker-members refuses to pay the award. I am proud to say that just in the first half of 2020 we have heard over 600 complaints and awarded over $1.2M to traders as compensation.

I hope that the above information clarifies our activities and services as genuine for you and request that you kindly consider marking the thread subject/title as “Resolved” with the assistance of FPA moderators, so as to clarify the information for all forum members.

Should you have any questions, you can reach out directly to me by sending a message to our official handle here on Forex Peace Army.
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,644
invite-fpaop.png
The FPA invited the Original Poster to update this discussion on Jan 5, 2021 at 7:00 AM
 

Scam Reporters

Master Sergeant
Messages
471
Greetings everyone!

My name is Nikolai; I am the COO of the Financial Commission. I am writing here because I believe there has been a misunderstanding in this thread regarding what our organization actually does and that it is actually not a scam in any way.

I know that there are questionable websites created online from time to time to mimic actual regulators and government agencies in order to conduct fraudulent activity, so I understand how this situation could have come about in this case and we do our best to try to inform the public about such frauds.

Likewise, as you noted, I can see how our name - Financial Commission can seem similar and be mistaken for Belize’s regulator and perhaps others. Yet, as you probably know, there are a lot of similar sounding regulatory agencies around the world, including more than one FCA, FSAs both in Seychelles and Labuan, etc., which is one of the reasons why we provide traders with a list of authentic regulators on our website as well.

The reply in the thread concerning Finacom Management LTD in the UK relates to our official registered trademark in Europe. As you can see from the publicly listed information this company owns our trademark and we list this information in the footer of our website because there is nothing to hide.

While I can’t speak for or against any of our member brokers, I wanted to point out that we require all of our broker-members to include in their customer agreements a mandatory dispute resolution process through the Financial Commission. The dispute is heard in accordance with our Rules and Guidelines and complaint resolution services are completely free for traders.

If a customer is not happy with the outcome of the dispute, he or she is free to proceed with bringing his complaint to the relevant judicial authority. The Financial Commission also maintains a Compensation Fund (funded by membership fees) from which the Financial Commission has covered the payout of customers' complaints if a broker-members refuses to pay the award. I am proud to say that just in the first half of 2020 we have heard over 600 complaints and awarded over $1.2M to traders as compensation.

I hope that the above information clarifies our activities and services as genuine for you and request that you kindly consider marking the thread subject/title as “Resolved” with the assistance of FPA moderators, so as to clarify the information for all forum members.

Should you have any questions, you can reach out directly to me by sending a message to our official handle here on Forex Peace Army.
Hi Nikolai

Thank you your lengthy reply and information. It's good to see that the Financial Commission is willing to explain its modus operandi as well we address any queries or topics that may arise from its activities and answer question. It certainly brings clarity to what you do.

We intend to discuss with you here pubically, so thanks in advance for being transparent and open to questions. Also please do not consider any issues we bring as an attempt to discredit your business, but purely to bring clarity to readers regarding your environment and how you operate.
 

Financial Commission

Representative of the Financial Commission
Messages
8
Hi Nikolai

Thank you your lengthy reply and information. It's good to see that the Financial Commission is willing to explain its modus operandi as well we address any queries or topics that may arise from its activities and answer question. It certainly brings clarity to what you do.

We intend to discuss with you here pubically, so thanks in advance for being transparent and open to questions. Also please do not consider any issues we bring as an attempt to discredit your business, but purely to bring clarity to readers regarding your environment and how you operate.
Hello - I am happy to answer any questions you may have in our dedicated thread on the FPA forum here or in direct messages on the forum, as I believe this particular thread is not the appropriate place, given that only misinformation has been provided in the previous posts.

BTW, since your profile on FPA deals specifically with scams, I think you'd benefit from the information we share in the Press Releases section regarding updates to our Warning List of companies that are possible scams.

Our Warning List is a direct result of public inquiries asking to check companies and individuals who purport to provide credible or licensed investment or trading services.

Thanks,

Nikolai
 

Pharaoh

Colonel
Messages
20,077
apparently there are scammer created a fake financial regulatory website
Code:
https://financialcommission.org
- scammer use the name as "Financial Commission", this could be mistaken as Belize's real financial regulator
- the scammer website also has company name & address in HK & UK

Acertablet,
Other than having a name that kind-of, sort-of, vaguely resembles Belize's IFSC, do you have any evidence of misdeeds by the Financial Commission, or are you just throwing this out there because you "think" something is wrong with it? BTW - When was the last time you saw the regulator in Belize order a forex trader to be reimbursed or else pay the trader out of a compensation fund?
 

Scam Reporters

Master Sergeant
Messages
471
Hello - I am happy to answer any questions you may have in our dedicated thread on the FPA forum here or in direct messages on the forum, as I believe this particular thread is not the appropriate place, given that only misinformation has been provided in the previous posts.

BTW, since your profile on FPA deals specifically with scams, I think you'd benefit from the information we share in the Press Releases section regarding updates to our Warning List of companies that are possible scams.

Our Warning List is a direct result of public inquiries asking to check companies and individuals who purport to provide credible or licensed investment or trading services.

Thanks,

Nikolai
Agreed.
 
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