The Financial Services Compensation Scheme (FSCS) today provided one more update regarding the situation with compensation payments for former clients of insolvent FX broker Alpari UK.
The FSCS says it is continuing to pay compensation to customers of Alpari (UK) Limited who have agreed their balances with the joint special administrators via the Alpari claims portal. The body warns, however, that if the account is held in joint names, or in the name of a trust or corporate entity, the claimant will be required to complete an FSCS application form.
The organization assures the public that it is working to process the remaining claims as quickly as possible and expects to make further payments in the next few weeks.
Customers should note that claims are subject to validation checks made by the joint special administrators before FSCS can make payments.
The joint special administrators will contact each client to confirm once compensation has been paid by FSCS. Those customers of the broker who have not received their payment within ten working days of receiving confirmation are asked to contact FSCS’s customer services team.
To view the latest update, click here.