Regulation and licensing
Capstone is authorized and regulated by the Australian Securities and Investment Commission, AFSL No:494799.and Capstone GM holds a Financial Services Authority No 119 LLC 2019 and is authorised to carry on a financial services business in St.Vincent and Grenadines.
Australian Securities and Investment Commission was set up under the Australian Securities and Investments Commission Act 2001(ASIC Act).It is an independent Commonwealth Government body and supervise the companies,investment behaviors,financial products and services independently according to the law.The Australian Securities and Investment Commission is the regulator of the Australian banking,securities and retail FX industries.Along with the Australian Securities and Investments Commission Act published in 2001,ASIC put retail FX market into the daily regulation scope,together with the banking,securities,insurance and other financial industry regulation.ASIC becomes an important part of Australia’s national financial system.
The Financial Ombudsman Service(FOS) is an Australian complaint service agencies,who offers fair,independent and accessible dispute resolution for consumers who are unable to resolve complaints with financial services providers.
As of 30 June 2016 the FOS had approximately 5,500 licensed member organizations that included banks, insurers, credit providers, financial advisers and planners, debt collection agencies and other businesses that provide financial products and services; together with an additional 8,000 authorized credit representatives. The Service is governed by its term of reference which allow for it to hear matters within six years of the first knowledge of a financial loss and, since January 2015, for the Service to award remedies capped at A$309,000. In 2015-6, the FOS received 34,095 disputes and closed 32,871 disputes.
Capstone is a member of FOS,and the member No. is:40026.
Professional Indemnity Insurance
Capstone makes PI insurance to ensure the safety of client funds.The insurance is covered by the American Liberty Mutual Insurance.
About Liberty Mutual Insurance
Liberty Mutual Insurance is an diversified global insurer,who was found in 1912. Based in Boston, Massachusetts, it employs over 50,000 people in more than 800 locations throughout the world.And it is the fifth-largest property and casualty insurer in the United States. As of December 31, 2016, Liberty Mutual Insurance had $121.7 billion in consolidated assets, $102.5 billion in consolidated liabilities, and $38.3 billion in annual consolidated revenue.And it was rated by Standard & Poor’s “A”(strong),Moody’s“A2”(good),A.M.Best“A”(excellent).It ranks 75th among the fortune 500 in 2017,ranking 249 out of the fortune 500 in 2016.
External Independent Audit
Australia’s top chartered accountants firm,who has decades of industry experience and professional knowledge ,conducts independent audit to Capstone on a regular basis,to ensure that Capstone’s regulatory obligations and business process meet the compliance thus be responsible for ASIC.
- A fully regulated FX broker by ASIC;
- A Financial Ombudsdman Service member,provide external dispute solution and compensation mechanism;
- Extra professional indemnity insurance to ensure the safety of clients’ funds;
- Top external independent audit to ensure business compliance.