UK bankruptcy law flaw preventing Alpari UK administrator KPMG from distributing more funds

September 20, 2016 BY LeapRate Staff

UK bankruptcy law flaw preventing Alpari UK administrator KPMG from distributing more funds - LeapRate Exclusive

LeapRate Exclusive... LeapRate has learned that Alpari UK bankruptcy administrator KPMG is unable to make final distributions to former clients of the failed retail forex broker without further court consent, due to a gap in UK bankruptcy rules. FCA-regulated Alpari UK went belly up immediately following the surprise Swiss Franc spike of January 15, 2015 -…

September 14, 2016 BY Mike Fox

KPMG launches blockchain Digital Ledger Services for financial companies

KPMG today announced the introduction of its Digital Ledger Services, a comprehensive suite of services designed to help financial services companies realize the potential of blockchain capabilities -- providing faster and more secure transactions, streamlining and automating back office operations, and reducing costs by utilizing blockchain-based technologies. Blockchain is an alternative ledger database that maintains a continuously…

August 17, 2016 BY LeapRate Staff

Alpari UK bankruptcy update: 79 cents on the dollar to be refunded as KPMG fees top £10 million

It has been more than 19 months since the bankruptcy of FCA-regulated retail forex broker Alpari UK, and things aren't totally unwound quite yet. Special Administrator KPMG has issued a further update on its work on the Alpari UK case. Alpari UK entered bankruptcy proceedings following heavy losses the company took on the Swiss Franc…

June 28, 2016 BY LeapRate Staff

Plus500 adds Nomura executive Penny Judd to its Board of Directors

FCA-regulated retail forex and CFD broker Plus500 Ltd (LON:PLUS) has announced some changes to its Board of Directors. The company added seasoned compliance executive Penny Judd as a non-executive director. Judd is currently EMEA Head of Compliance in the London office of Japanese banking giant Nomura Holdings, Inc. (ADR) (NYSE:NMR), although she plans to step down from…

March 22, 2016 BY LeapRate Staff

KPMG update on Alpari UK bankruptcy: Client funds shortfall expected between $20-22 million

Special Administrator KPMG has issued a further update on the bankruptcy of retail forex broker Alpari UK, showing what it calls the Illustrative Financial Outcome for Alpari UK clients. Note that it has been more than 14 months since Alpari UK entered bankruptcy proceedings, following heavy losses the company took on the Swiss Franc spike of January…

March 22, 2016 BY Mike Fox

KPMG deployed to monitor Malta based broker Tier1FX's agency execution

Tier1FX, the STP-DMA agency model broker regulated by the Malta Financial Services Authority, is pleased to announce that KPMG in Malta has been engaged to review its offering in FX and CFDs. Having examined its trading execution system and tested a representative sample of transactions in 2015, the resultant report has confirmed that these trades…

February 16, 2016 BY LeapRate Staff

ETX Capital pays additional $1.2 million for Alpari UK client list - LeapRate Exclusive

Original upfront payment made by ETX was just

February 15, 2016 BY Maria Nikolova

KPMG fees charged to Alpari UK administration top $15M, as $48M has been returned to clients

It has been more than a year since the courts appointed KPMG as the joint special administrators over bankrupt Alpari UK, and the saga is far from over for ex Alpari UK clients. On the 13 month anniversary of the January 15, 2015 Swiss Franc spike which started the story, KPMG has issued its Second Progress Report…

December 02, 2015 BY Maria Nikolova

KPMG confirms Alpari UK preferential creditors to be paid in full

KPMG, the Joint Special Administrators of retail Forex broker Alpari UK that went insolvent following the Jnauary 15, 2015 events, today confirmed that preferential creditors of the broker will be paid in full. KPMG has already stated – back in August, when it released the First Progress report on the Alpari UK case, that all preferential…

August 14, 2015 BY Maria Nikolova

KPMG has charged more than $10 million in fees to Alpari UK bankruptcy administration

Administrator KPMG also disclosed sale prices of Alpari UK client list, and Alpari Japan.

Tag: KPMG