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Alpari.co.uk Discussion

  • #2,501
  • Jan 21, 2015 8:28am Jan 21, 2015 8:28am
Quoting ewinner
a new link has been put up on KPMG website https://www.insolvency-kpmg.co.uk/ca...F119D1101.html Looks like they have definitely gone into administration now!!

that just means the high court has offically given the amdinstrative powers to the 3 adminstrators..nothing more..
  • #2,502
  • Jan 21, 2015 8:28am Jan 21, 2015 8:28am
Quoting ewinner
a new link has been put up on KPMG website https://www.insolvency-kpmg.co.uk/ca...F119D1101.html Looks like they have definitely gone into administration now!!
Its jits a court doc signed on 19th Jan confirming the SA status. Not anything new really
  • #2,503
  • Jan 21, 2015 8:29am Jan 21, 2015 8:29am
I am pretty sure, there is something we (alpari clients) all have to learn from this. Take advantage of this lesson, I am trying to make the best out of it. Looking into other possible brokers, not giving up on my trading. I am very greatful to find out there are so many people like you guys, keeping us all updated with all the new news releases. Every one of us knows really how good of a trader he or she is, we know we will make this money back. Now time, no one can give us this time back.. use this time for good things in your life. Take care people.... Cheers
  • #2,504
  • Jan 21, 2015 8:30am Jan 21, 2015 8:30am
Quoting Mroue26
{quote} Would u plz provide us the content.. I cant open the file attached
Nothing special just a paper that confirm they are special administrators. Just not useful.
I have a friend went today in kpmg office he will tell me when done and i will report it in here.
No one from london or uk than he wents in kpmg office for know more about his situation? Just all from internet?
myfxbook: neoxis
  • #2,505
  • Jan 21, 2015 8:34am Jan 21, 2015 8:34am
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  • #2,506
  • Jan 21, 2015 9:33am Jan 21, 2015 9:33am
did someone hear anything new about the ironfx deal that was reported by leaprate in the morning
  • #2,507
  • Jan 21, 2015 9:40am Jan 21, 2015 9:40am
Alpari administrators KPMG say there are potential buyers
http://www.bbc.com/news/business-30889847

IronFX Global in talks to acquire Alpari UK out of administration – LeapRate Exclusive
http://leaprate.com/2015/01/ironfx-g...ate-exclusive/
  • #2,508
  • Jan 21, 2015 10:00am Jan 21, 2015 10:00am
deja vu???


http://www.nfa.futures.org/news/news...ArticleID=4087

NFA issues $200,000 fine against New York forex firm Alpari US LLC

July 26, Chicago - National Futures Association (NFA) has ordered Alpari US LLC, a futures commission merchant and forex dealer Member located in New York City, to pay a $200,000 fine as a result of an NFA Complaint filed in June 2012 and a settlement offer submitted by Alpari and two of the firm's principals, Jermaine C. Harmon and Richard A. Lani.
The Decision, issued by NFA's Business Conduct Committee, found Alpari violated several NFA requirements, including improperly cancelling forex trades and removing profits from customer accounts, failing to timely report trade data and other required information to NFA, failing to observe high standards of commercial honor, failing to comply with NFA's Enhanced Supervisory Requirements and failing to keep accurate records. The Decision also found that Alpari - together with Harmon and Lani - failed to supervise.
In addition to the $200,000 fine, Alpari is required to refund within 30 days to customers losses they incurred as a result of the price adjustments that Alpari made to their accounts in connection with an October 2011 "market event." Alpari must also provide verification to NFA that these refunds were paid to and received by customers.
Alpari must also submit a written report to NFA within 180 days of the effective date of the Decision which documents the results of an independent review of Alpari's electronic trading platforms conducted by a qualified outside party and the steps Alpari has implemented to remedy deficiencies with the firm's internal controls.
Alpari, Harmon and Lani neither admitted nor denied the charges. The complete text of the Complaint and Decision are available on NFA's website.
  • #2,509
  • Jan 21, 2015 10:11am Jan 21, 2015 10:11am
Are there valid information about 'potential' buyers?

To me it seems more like rumors....

First FXCM
than Pepperstone
and now IronFX
......or they are all looking for the best parts!
  • #2,510
  • Jan 21, 2015 10:15am Jan 21, 2015 10:15am
Try to keep calm and wait for more news instead to find article around internet i would prefer listen someone than was in touch with kpmg today or yesterday and what they said new. Anyway it's normal than it take more than one day for make a deal with an insolvency company. I think at the end of this week we will know more about ours situation on funds and the deal is in the interest of kpmg to find a potential buyer and what buyers want are ours funds obviously. So everyone has a positive balance should not to worry to much and just wait what happens in the next days , in any case we will take back our money even if there is a deal with a new broker or not.
I just hope no one of shareholders gonna put some obstacle for not sell the company than in this time is the only thing to do for figure out the problem. If not i'm really positive there will be a good deal on alpari uk for sure. The only important thing...the new broker want from us ours funds (positive funds). We need just time. Don't be worried too much.
And remember at the last thing we still have protection fund from FSCS even if this will require for sure more time for have it but like i said before, kpmg have all intention for sell the company at the best deal.
myfxbook: neoxis
  • #2,511
  • Jan 21, 2015 10:40am Jan 21, 2015 10:40am
Im my next life I will become a special administrator.

This is from the final report of another special administration that KPMG ran:

In the period 18 September 2012 to 17 March 2013, the Special Administrators and their staff
have incurred time costs of £2,046,545 representing 5,472 hours at an average hourly
rate of £ 374.

.
  • #2,512
  • Jan 21, 2015 10:41am Jan 21, 2015 10:41am
Quoting Spekulant
Are there valid information about 'potential' buyers? To me it seems more like rumors.... First FXCM than Pepperstone and now IronFX ......or they are all looking for the best parts!
We still don't know we hope the best for all of us
  • #2,513
  • Jan 21, 2015 10:44am Jan 21, 2015 10:44am
Quoting Frenchie
Im my next life I will become a special administrator. This is from the final report of another special administration that KPMG ran: In the period 18 September 2012 to 17 March 2013, the Special Administrators and their staff have incurred time costs of £2,046,545 representing 5,472 hours at an average hourly rate of £ 374. .
yes, but you also have to look at the details. the largest single sum received as always the lawyers. So I will in the next life lawyer, hahaha
  • #2,514
  • Jan 21, 2015 10:59am Jan 21, 2015 10:59am
Last e-mail from kpmg:

"The Joint Special Administrators' proposals, providing an update on the progress of the Special Administration and the strategy going forward, will be sent to creditors and clients of the Company within the next 8 weeks. "

It's meen we must wait this timefor ower founds?
  • #2,515
  • Jan 21, 2015 11:21am Jan 21, 2015 11:21am
Alpari clients must be happy that a criminal firm such as KPMG is investigating their case. Good luck guys with maybe getting 80% of your funds back. 20% goes straight in to the pockets of our criminal friends.
  • #2,516
  • Jan 21, 2015 11:25am Jan 21, 2015 11:25am
Keep calm guys
We are risk takers, I am analyzing my new strategies these days.
God knows I am in a disaster cus of what happened to alpari UK.
But I believe we will get all our money back, and win or lose trades again.
Just try to imagine more than 100,000 traders, wake up, and found the strong broker is insolvent, and we are all stuck.
We have learned this lesson well, no one is good and no one is bad.

Hey Alpari Hurryyyyyyyyyyyyyyyyyyy!!
  • #2,517
  • Jan 21, 2015 11:28am Jan 21, 2015 11:28am
Dear Sir/Madam
Alpari (UK) Limited (in special administration) (the "Company")
Thank you for your email in which you provided your proof of debt form. Further information will be provided in due course regarding the process for the agreement of claims. Please continue to monitor the website (address below) for further updates in this regard.
We confirm that Richard Heis, Samantha Bewick and Mark Firmin were appointed as Joint Special Administrators to the Company (the "Joint Special Administrators") on Monday, 19 January 2015.
The Joint Special Administrators are currently receiving extremely high volumes of queries from creditors and clients. The Joint Special Administrators will endeavour to answer your queries as soon as possible, however due to the volume and similarity of queries being received, this will be performed through updates on their website.
www.kpmg.com/uk/alpari
The website will continue to be updated as further information becomes available.
The Joint Special Administrators are working closely with the Company staff to confirm all client positions. The Company is unable to action requests for withdrawals at present (including requests made prior to the appointment of the Joint Special Administrators but remaining outstanding) from any client accounts, as these accounts are now subject to the special administration process.
In relation to client monies held by the Company, the Joint Special Administrators are working to reconcile holdings and accounts in order to enable client monies to be released as soon as practicable, which is one of the Joint Special Administrators' formal objectives under the Investment Bank Special Administration Regulations 2011. Clients will receive formal correspondence shortly setting out the process for making a claim in order to receive a distribution for amounts owed. As part of the process of agreeing client money entitlements we shall shortly notify a “last date for proving”, although would seek to make interim payments to holders of agreed claims before this date insofar as this is possible.
To the extent that it is not possible to reclaim money, it may be possible to make a claim under the Financial Services Compensation Scheme (‘FSCS’). FSCS is a compensation fund of last resort for customers of authorised financial services firms who become insolvent (such as the Company). For eligible investment claims where the consumer suffers a loss, FSCS can pay up to £50,000 in compensation per person, per authorised firm. If claims are paid by FSCS, it will then assume those client positions against the Company. The Joint Special Administrators are working with the FSCS to agree a process that will enable clients to establish a claim for loss. FSCS will publish an update on its website detailing the process for settling potential claims in due course.
The Joint Special Administrators' proposals, providing an update on the progress of the Special Administration and the strategy going forward, will be sent to creditors and clients of the Company within the next 8 weeks.

Please monitor the Joint Special Administrators’ website for further updates which will be provided as information becomes available.

Yours faithfully
for Alpari (UK) Limited

Scott Rubin

For the Joint Special Administrators

I just received a generic email at least it says they have received my debt form
  • #2,518
  • Jan 21, 2015 11:29am Jan 21, 2015 11:29am
Quoting SkyHill
Last e-mail from kpmg: "The Joint Special Administrators' proposals, providing an update on the progress of the Special Administration and the strategy going forward, will be sent to creditors and clients of the Company within the next 8 weeks. " It's meen we must wait this timefor ower founds?
It's just a deadline than they should make a decision and report to us.
myfxbook: neoxis
  • #2,519
  • Jan 21, 2015 11:30am Jan 21, 2015 11:30am
Quoting SkyHill
Last e-mail from kpmg: "The Joint Special Administrators' proposals, providing an update on the progress of the Special Administration and the strategy going forward, will be sent to creditors and clients of the Company within the next 8 weeks. " It's meen we must wait this timefor ower founds?
yes, I think, but only if there is no buyer for the whole company.
  • #2,520
  • Jan 21, 2015 11:33am Jan 21, 2015 11:33am
Quoting nAVIN2007
Dear Sir/Madam Alpari (UK) Limited (in special administration) (the "Company") Thank you for your email in which you provided your proof of debt form.
.....
...hahaha, standard letter. Only blah. write the same things I had already received hours ago.
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