When choosing a financial services provider, it is important for you to know how the firm is regulated. This provides you with peace of mind that any client funds held with the firm are safeguarded and that any trading that the firm carries out on your behalf is in accordance with industry regulations. The team at OMF ensure that all governing regulations are strictly followed and we are always happy to discuss our policies and procedures.
How OMF Is Regulated:
- Regulatory Oversight
Safeguarding of Client Funds
Client money is held in client segregated accounts with a major Australian bank. These funds are held separately from OMF company funds. This is a legal requirement and a condition of our financial services licence.
Anti-money laundering and counter financing of terrorism framework
OMF is required to comply with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). We have strict procedures in place to minimize the risk that our service could be used for money laundering purposes including:
- Identification of all clients
- Monitoring and reporting of suspicious transactions
- Maintaining records for at least five years
- Training staff to recognize suspicious transactions and to be aware of their reporting obligations
We do not accept physical cash.
We do not accept or transfer funds that are related to criminal activity.
Should you have any concern or complaint we encourage you to contact us so it can be resolved. If we can’t resolve your complaint in this instance it will be referred to our compliance manager who will then contact you. You can contact our compliance manager at any time via firstname.lastname@example.org.
If after 45 days the complaint has not been resolved to your satisfaction you can contact the Financial Ombudsman’s Service (FOS) at Fincial Ombudsman’s Service Ltd, GPO Box 3, Melbourne, VIC, 3001, Australia. Ph: 03 9613 3766. For more information about FOS please visit their website www.fos.org.au.