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  • #3,721
  • Feb 5, 2015 8:07am Feb 5, 2015 8:07am
Quoting michaelisaac
{quote} Alpari's web site has been working for years without any problem, otherwise alpari would have changed it, and now they will build a new system and test it out on us? like we need more risk at our monies.
yes u are right!!! they just playing with us..maybe hoping we die b4 they pay out..the bast%£ards
  • #3,722
  • Feb 5, 2015 8:40am Feb 5, 2015 8:40am
Has everyone here completely missed the point ?



Q. My funds were held in a segregated account, why can’t they just be returned?

Segregated accounts are held together with all of the firm’s client money in omnibus accounts designated as client monies at banks or exchanges/clearing houses. Pursuant to the FCA’s Client Asset rules, on insolvency all these designated accounts are pooled and any segregated client is entitled to a share in the pool on a pro-rata basis. Until the overall total of claims against the segregated pool is established, money cannot be returned to individual clients having a claim against the segregated pool.

Q. What does pro-rata mean in regards to distributions?
A. Clients are paid distributions in proportion to the value of their claims. For example, if the Joint Special Administrators were to declare a distribution rate of 50 pence in the £,
1) A client with a claim of £100 would receive a distribution of £50; and
2) A client with a claim of £4,000 would receive a distribution of £2,000.



The point is that if our funds are segregated, and the administrators are appointed by the courts to handle the processes of the business with a view to salvage or winding up, then the costs of returning the segregated retail funds should surly be borne by the business, ie Alpari, not us. As it stands we face a near total loss of our funds, at KPMGs discretion and timetable.

Also, the back office system already exists to verify customer accounts and process the withdrawal – how else did we deposit our funds in the first place – so there is no need to develop a “web claims portal” at great delay and expense to us retail clients.

Are you happy with this ? No ? Then ask yourself:

Have you phoned the Alpari hotline today (0333 202 1397) and kicked off ? No ? Then why not. Have you followed your call with (yet another) letter of complaint ? No ? Then why not ?


Have you phoned the FCA complaints line today (0207 066 9870) and kicked off ? No ? Then why not. Have you followed your call with (yet another) letter of complaint ? No ? Then why not ?


Have you filed a formal Insolvency Practitioner Complaint via the Government Insolvency Service ? Via this link https://www.insolvencydirect.bis.gov...Complaint.aspx ? No ? Then why not ?

Don't just assume that everyone else will do these things to help you get your money back while you just hang out here whining about the injustice of it all.

Get on the phone, raise hell, write every day and file formal complaints about KPMG to the Government.

Do it now, and every day until you receive the cheque.
  • #3,723
  • Feb 5, 2015 8:43am Feb 5, 2015 8:43am
Quoting circochas
Has everyone here completely missed the point ? Q. My funds were held in a segregated account, why can’t they just be returned? Segregated accounts are held together with all of the firm’s client money in omnibus accounts designated as client monies at banks or exchanges/clearing houses. Pursuant to the FCA’s Client Asset rules, on insolvency all these designated accounts are pooled and any segregated client is entitled to a share in the pool on a pro-rata basis. Until the overall total of claims against the segregated pool is established, money...

what happened when u did this?
  • #3,724
  • Feb 5, 2015 8:58am Feb 5, 2015 8:58am
Quoting nAVIN2007
{quote} what happened when u did this?
...And that's my point...
  • #3,725
  • Feb 5, 2015 9:01am Feb 5, 2015 9:01am
Quoting circochas
{quote} ...And that's my point...
u are making an assumptions i havent done this..i am simply asking u what happened?
  • #3,726
  • Feb 5, 2015 9:14am Feb 5, 2015 9:14am
Quoting circochas
Has everyone here completely missed the point ? Q. My funds were held in a segregated account, why can’t they just be returned? Segregated accounts are held together with all of the firm’s client money in omnibus accounts designated as client monies at banks or exchanges/clearing houses. Pursuant to the FCA’s Client Asset rules, on insolvency all these designated accounts are pooled and any segregated client is entitled to a share in the pool on a pro-rata basis. Until the overall total of claims against the segregated pool is established, money...
I disagree with what your suggesting.
What you have to understand is the FCA have got it all sewn up tighter than a duck ass!
KPMG are acting on rules and regulation set by the FCA.
With that understood, KPMG are not the ones to target your frustrations at.
I have already stated numerous times before in previous posts that what this needs is exposure.
One man alone is a trouble maker, 1000 men together have a voice.
I could write to watchdog highlighting the flaws in the FCA but my voice alone is not enough, everyone involved in this mess needs to do the same. If enough people do that then watchdog will use their resources to investigate exactly what is going on and ensure that we are being treated fairly, even if it turns out that legally we are being treated fairly, they will highlight any flaws in the procedures that the FCA have in place for these circumstances and put pressure through media coverage on the FCA to better protect the clients in events like this.
I have no problem in arguing the case but if im the only one doing so then im wasting my time.
Its like everyone is getting revved up for battle but when we reach the warzone how many of you will still be there when I turn around?
https://ssl.bbc.co.uk/programmes/b006mg74/contact
There is the link, again.
If this situation is p**sing you off do something constructive about it!
  • #3,727
  • Feb 5, 2015 9:22am Feb 5, 2015 9:22am
Quoting jizzyjay
{quote} I disagree with what your suggesting. What you have to understand is the FCA have got it all sewn up tighter than a duck ass! KPMG are acting on rules and regulation set by the FCA. With that understood, KPMG are not the ones to target your frustrations at. I have already stated numerous times before in previous posts that what this needs is exposure. One man alone is a trouble maker, 1000 men together have a voice. I could write to watchdog highlighting the flaws in the FCA but my voice alone is not enough, everyone involved in this mess...
adminstrators are appointed by the court..they are just doing their job..u are right, we need some kind of declaration and send it to the bbc watchdog people or something demanding things are done quicker..
  • #3,728
  • Feb 5, 2015 9:27am Feb 5, 2015 9:27am
https://au.news.yahoo.com/world/a/26...r-114-jobs-go/


http://www.standard.co.uk/business/b...-10025688.html
  • #3,729
  • Feb 5, 2015 9:28am Feb 5, 2015 9:28am
http://www.forexlive.com/blog/2015/0...#disqus_thread
GBP/USD
  • #3,730
  • Feb 5, 2015 9:41am Feb 5, 2015 9:41am
Quoting deepak925
http://www.forexlive.com/blog/2015/0...#disqus_thread
Awesome, money locked for month now?!?


I have a pretty crazy question!

During the account opening I revived a letter that my account is opened with

Barclays PLC
London ...
Steet ...


Account holder : my name
Adress: my adress

Account numer: my account number

Or something similar.


Isn't it possible to get the money over Barclays if the accounts are really segregated?



Cheers!
  • #3,731
  • Feb 5, 2015 9:43am Feb 5, 2015 9:43am
Quoting deepak925
http://www.forexlive.com/blog/2015/0...#disqus_thread
Fuck russian, in the article it said that the russian founder has bought something: I think he bought our Money, bastard.

"A Client with a claim of 4000, would receive a distribution of 2000"

As mentioned, I think we will get something 30% or less and then its our game to deal with FCA.

FCA mentions in the FAQ that it will take till 6 months to pay out anything. They will break our will with time and effort to get anything ...
  • #3,732
  • Feb 5, 2015 9:44am Feb 5, 2015 9:44am
Well, what is the latest news, are our funds going to be released soon?

Thanks
  • #3,733
  • Feb 5, 2015 9:44am Feb 5, 2015 9:44am
Taken from the Evening Standard link:

Of Alpari UK’s 160,000 clients only a quarter are understood to be high value, with the vast majority having balances of less than £100.
Bidders are haggling over different incentive structures with the administrator, based on how many Alpari UK clients they manage to convert into their own customers.
ETX declined to comment. An Oanda spokesman said: “While we are exploring all M&A opportunities, we cannot provide any further details at this time.”

There is still hope yet!
Most of what I read in the new links was old news.
This however isn't.
  • #3,734
  • Feb 5, 2015 10:04am Feb 5, 2015 10:04am
Quoting jizzyjay
Taken from the Evening Standard link: Of Alpari UK’s 160,000 clients only a quarter are understood to be high value, with the vast majority having balances of less than £100. Bidders are haggling over different incentive structures with the administrator, based on how many Alpari UK clients they manage to convert into their own customers. ETX declined to comment. An Oanda spokesman said: “While we are exploring all M&A opportunities, we cannot provide any further details at this time.” There is still hope yet! Most of what I read in the new links...
We hoping man...but for now nothing new...just speculation...I want read a news where THERE IS SOME CONFIRM ABOUT AN ACQUISITION. we have ours finger crossed.
myfxbook: neoxis
  • #3,735
  • Feb 5, 2015 10:13am Feb 5, 2015 10:13am
Quoting jizzyjay
{quote} I disagree with what your suggesting.

A watchdog programme would form part of a longer crisis strategy, but they have no power today.

If you want results now then get on to the body that oversees KPMG as the administrators here https://www.insolvencydirect.bis.gov.uk/ExternalOnlineForms/InsolvencyPractitionerComplaint.aspx as it's KPMG that are making the decision, wrongfully in my opinion, to rape our accounts to pay themselves first and to further add to the expence by developing a duplicate system to do it by.
  • #3,736
  • Feb 5, 2015 10:23am Feb 5, 2015 10:23am
Quoting circochas
{quote} A watchdog programme would form part of a longer crisis strategy, but they have no power today. If you want results now then get on to the body that oversees KPMG as the administrators here https://www.insolvencydirect.bis.gov...Complaint.aspx as it's KPMG that are making the decision, wrongfully in my opinion, to rape our accounts to pay themselves first and to further add to the expence by developing a duplicate system to do it by.
Nobody has any power to do anything today! Thats the whole point in what I said.
By all means contact the complaints department.
Only trouble is, there is nothing to complain about because they are following FCA rules and regulations.
Good luck.
  • #3,737
  • Feb 5, 2015 10:35am Feb 5, 2015 10:35am
Quoting circochas
Has everyone here completely missed the point ? Q. My funds were held in a segregated account, why can’t they just be returned? Segregated accounts are held together with all of the firm’s client money in omnibus accounts designated as client monies at banks or exchanges/clearing houses. Pursuant to the FCA’s Client Asset rules, on insolvency all these designated accounts are pooled and any segregated client is entitled to a share in the pool on a pro-rata basis. Until the overall total of claims against the segregated pool is established, money...
  • #3,738
  • Feb 5, 2015 10:38am Feb 5, 2015 10:38am
Quoting circochas
{quote} A watchdog programme would form part of a longer crisis strategy, but they have no power today. If you want results now then get on to the body that oversees KPMG as the administrators here https://www.insolvencydirect.bis.gov...Complaint.aspx as it's KPMG that are making the decision, wrongfully in my opinion, to rape our accounts to pay themselves first and to further add to the expence by developing a duplicate system to do it by.
Do you really think KPMG is doing something they are not allowed to do?? Oh, please.....
  • #3,739
  • Feb 5, 2015 10:43am Feb 5, 2015 10:43am
i have started new thread where we can discuss steps which we can take to get our funds back. please join together. it is our money. ok i get it, some of you think that we are living in perfect world and everything is happening according to book and in our best interest possible. but just sitting and doing nothing, or doing it as individual and not in group will not help. we have to raise our voice even if everything is happening in perfect way possible. we have to become news. world needs to know our issues.here http://www.forexfactory.com/showthre...19#post8049119
  • #3,740
  • Feb 5, 2015 10:46am Feb 5, 2015 10:46am
Quoting jizzyjay
{quote} Nobody has any power to do anything today! Thats the whole point in what I said. By all means contact the complaints department. Only trouble is, there is nothing to complain about because they are following FCA rules and regulations. Good luck.
Read the guidelines - KPMG are following an interpretation of the rules, and if no one says anything they will get away with it too.
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