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Alpari.co.uk Discussion

  • #7,421
  • Jul 3, 2015 2:04am Jul 3, 2015 2:04am
The FSCS is NOT the taxpayers' money, but the brokerage firms Silane pay premiums paid ...
  • #7,422
  • Jul 3, 2015 5:19am Jul 3, 2015 5:19am
Quoting circochas
OK, Come on now, give the FSCS a break ! What people don't seem to realise is that the FSCS is not a private company operated for profit, they are funded by the tax payer, the UK tax payer, so all those from abroad should consider this before being too quick to judge. I'm sure many a British tax payer would not object to all of us trading through a foreign based brokerage in future. Additionally, the FSCS can only work with the data given them by KPMG. If KPMG drag their heels (as has been seen to be in their interests given they are charging by...

Hold on for a bit !!
I'm not asking for any kind of "benefit" from tax-payers pocket! I'd just like to have back my money from my trading account,which is still sitting on the segregated bank account controlled by KPMG $ FSCS duo !!
This is not a political forum,why are you starting in here with your nonsense hate-speech?
People are frustrated,me myself too - because of the crap communication of FSCS and KPMG.
  • #7,423
  • Jul 3, 2015 6:26am Jul 3, 2015 6:26am
Quoting circochas
OK, Come on now, give the FSCS a break ! What people don't seem to realise is that the FSCS is not a private company operated for profit, they are funded by the tax payer, the UK tax payer, so all those from abroad should consider this before being too quick to judge. I'm sure many a British tax payer would not object to all of us trading through a foreign based brokerage in future. Additionally, the FSCS can only work with the data given them by KPMG. If KPMG drag their heels (as has been seen to be in their interests given they are charging by...
FSCS is funded by its member partners, not by the British taxpayer. In any case, as you said PGAB, the problem is the lack of communication and serious. It's so hard to put a date and meet ... What the hell is this going payments division ?? leftovers know who should pay them money .... shit !!
Ora et labora
  • #7,424
  • Jul 3, 2015 6:30am Jul 3, 2015 6:30am
FSCS have loads of money!
As the regulatory body they have the right to impose heavy penalties on those banks and other financial institutions who are not obeying the law.

they have recently lined their pockets with billions which were penalties on well know banks. It is all the internet.

The income they make from members premiums whom they regulate is only one source of income.

Money is not a problem for them as they have enough and they are also re insured.

KPMG handed over the 2nd tranche list long time ago to FSCS. Once this is done it is completely out of the hands of KPMG.

Bottom line is FSCS made a boo boo and they are late on their Alpari payments as was already admitted by them.

G
Never Ever Give Up!
  • #7,425
  • Jul 3, 2015 6:44am Jul 3, 2015 6:44am
I agreed to my claims on the 10th of March !!
and I'm not on the 2nd tranche !
my beef is with KPMG and their non-existent communication...
I am considering suing KPMG.
  • #7,426
  • Jul 3, 2015 6:50am Jul 3, 2015 6:50am
Quoting Jpwhy
I agreed to my claims on the 10th of March !! and I'm not on the 2nd tranche ! my beef is with KPMG and their non-existent communication... I am considering suing KPMG.
My situation is identical. Accept the March 10 and still do not even know when I paid, this is a shame.
Ora et labora
  • #7,427
  • Jul 3, 2015 7:45am Jul 3, 2015 7:45am
Does FSCS have any legal statutory deadline until which the payment has to be made? Whom can one complain about their conduct?
  • #7,428
  • Jul 3, 2015 8:01am Jul 3, 2015 8:01am
Quoting Jpwhy
I agreed to my claims on the 10th of March !! and I'm not on the 2nd tranche ! my beef is with KPMG and their non-existent communication... I am considering suing KPMG.
Quoting circochas
OK, Come on now, give the FSCS a break ! ............In my humble opinion it's KPMG who are the villains here - millions of dollars, nearly 6 months, and a ........... next Friday.
Quoting MikeXplosion
{quote} My situation is identical. Accept the March 10 and still do not even know when I paid, this is a shame.
Similar here, but worse - no communication, no Claims Portal, no answer to emails. Except the standard bul.... that they are too busy . 500 an hour just imagine..
Surely from February to July is enough time to check the accounts? Charge outrageous money to poor Alpari. Said 55 cent in a dollar what a joke , will be lucky to get 10 cents !!

I also say it's time to sue them, for missed profits/distress/negligence/etc. Any other unhappy people here??
My situation is simple - I haven't changed emails or bank or telephone. Just address. The claims portal identifies me at login but says "need to wait...." So disgusting . What's stopping these "administrators" to do their job on time ?
Beware of robber banks (RB), bad advisors.
  • #7,429
  • Edited 8:56am Jul 3, 2015 8:46am | Edited 8:56am
Quoting turing
Does FSCS have any legal statutory deadline until which the payment has to be made? Whom can one complain about their conduct?
Good question. I would also like to know which is the maximum term for these bastards pay.

KPMG said FSCS would pay before. They lied .... once again.
Ora et labora
  • #7,430
  • Jul 3, 2015 10:30am Jul 3, 2015 10:30am
Quoting Pgab
{quote} Hold on for a bit !! I'm not asking for any kind of "benefit" from tax-payers pocket! I'd just like to have back my money from my trading account,which is still sitting on the segregated bank account controlled by KPMG $ FSCS duo !! This is not a political forum,why are you starting in here with your nonsense hate-speech? People are frustrated,me myself too - because of the crap communication of FSCS and KPMG.

AGREE with Pgab.

That croacoch does not know anything.
  • #7,431
  • Jul 3, 2015 10:36am Jul 3, 2015 10:36am
Quoting MikeXplosion
{quote} Good question. I would also like to know which is the maximum term for these bastards pay. KPMG said FSCS would pay before. They lied .... once again.

FSCS is acting like stupid small kid. I think 'they hope the clients of alpari tired and forget their money'.
KPMG has sent the data of clients to FSCS. And KPMG has said to wait for 1 week then FSCS will contact. BUT BUT BUT until months months months, FSCS just sitting and always give a reason "so many to pay, wait" (like kid's excuse).
  • #7,432
  • Jul 3, 2015 10:40am Jul 3, 2015 10:40am
Quoting Cobra
FSCS have loads of money! As the regulatory body they have the right to impose heavy penalties on those banks and other financial institutions who are not obeying the law. they have recently lined their pockets with billions which were penalties on well know banks. It is all the internet. The income they make from members premiums whom they regulate is only one source of income. Money is not a problem for them as they have enough and they are also re insured. KPMG handed over the 2nd tranche list long time ago to FSCS. Once this is done it is completely...
Yes, FSCS boo boo. FSCS is sleeping.
  • #7,433
  • Jul 3, 2015 10:44am Jul 3, 2015 10:44am
Quoting Cobra
{quote} Well if KPMG is prepared to put this in writing it is a positive. This confirms what FSCS have been telling us when phoning them. The end seems to be near.....

I HOPE SOOOOOO........... getting up the FSCS
  • #7,434
  • Jul 3, 2015 10:44am Jul 3, 2015 10:44am
Quoting jovinego
any alpari ex client from Asia area already receive payment from KPMG

Hahahaha.... I dont think so
  • #7,435
  • Jul 3, 2015 10:49am Jul 3, 2015 10:49am
Quoting widyantoro
{quote} Did you hear that the 1st batch is paid? I never heard, then we are the 2nd batch. So will they are pay our claim? 1st July, poor FSCS. JUST TALK!

They just BIG TALK
  • #7,436
  • Jul 3, 2015 6:49pm Jul 3, 2015 6:49pm
I sent a mail to kpmg on the second of July, and this was there reply to me.


Dear Sir/Madam
Alpari (UK) Limited (in special administration) (the "Company")
This email is in relation to your previous query made to the Alpari Claims Inbox relating to timeframes for payment.

I can confirm that your details have been passed onto the FSCS for payment; the Joint Special Administrators understand from FSCS that FSCS will be making payments imminently, or in any case within the next seven working days. All payments will be made either to your nominated bank account using the bank information that you provided on the Claims Portal or, if you opted for your compensation to be paid to your ETX Capital account, then payment will be made to ETX Capital accordingly.

You will receive further communication from the Joint Special Administrators once payment has been made, or if there are any further bank details required from you in order to complete your payment.

If you receive no communication regarding payment within the next 10 working days, please contact us at this email address.

Yours faithfully
for Alpari (UK) Limited

Scott Rubin

For the Joint Special Administrators
  • #7,437
  • Jul 3, 2015 10:25pm Jul 3, 2015 10:25pm
Quoting godwi
I sent a mail to kpmg on the second of July, and this was there reply to me. Dear Sir/Madam Alpari (UK) Limited (in special administration) (the "Company") This email is in relation to your previous query made to the Alpari Claims Inbox relating to timeframes for payment. I can confirm that your details have been passed onto the FSCS for payment; the Joint Special Administrators understand from FSCS that FSCS will be making payments imminently, or in any case within the next seven working days. All payments will be made either to your nominated...
I sent email at June 25th, but got only automatical response.
  • #7,438
  • Jul 3, 2015 10:31pm Jul 3, 2015 10:31pm
Quoting mmx007
{quote} I sent email at June 25th, but got only automatical response.
I sent email 4 times, they replied me :


Dear Sir/Madam
Alpari (UK) Limited (in special administration) (the "Company")
This email is in relation to your previous query made to the Alpari Claims Inbox relating to timeframes for payment.

I can confirm that your details have been passed onto the FSCS for payment; the Joint Special Administrators understand from FSCS that FSCS will be making payments imminently, or in any case within the next seven working days. All payments will be made either to your nominated bank account using the bank information that you provided on the Claims Portal or, if you opted for your compensation to be paid to your ETX Capital account, then payment will be made to ETX Capital accordingly.

You will receive further communication from the Joint Special Administrators once payment has been made, or if there are any further bank details required from you in order to complete your payment.

If you receive no communication regarding payment within the next 10 working days, please contact us at this email address.

Is this means I will get the money in 2nd tranche?
  • #7,439
  • Edited Jul 5, 2015 4:29am Jul 4, 2015 5:49am | Edited Jul 5, 2015 4:29am
Returning back to the issue with force majeure

I don't know if it is only me but I am sure that if tried in court then
the argumentation for using Force Majeure as an argument for closing down all our open post
giving us a big loos will not hold.

The issue is relative simple. If letting go of supporting the Swiss franc is force majeure
then the supporting the Swiss franc is also force majeure just the opposite way.

We have to keep in mind that, we are dealing with a situation where Alpari goes into bankruptcy and
the insurance of FSCS takes over.

In my mind Alpary went bankrupt because the fluctuation of the Swiss franc was bigger that normal
and it had absolutely nothing to do with Force Majeure.

Therefore the FSCS insurance should cover the previous ledger balance up to 50 k

What is the general opinion out there ?
  • #7,440
  • Jul 5, 2015 6:07am Jul 5, 2015 6:07am
I had called the FSCS last week asking regarding the status of my claim. They confirmed to me that it will be released before the end of this week. I havent received any email from FSCS as yet stating that the wire transfer has been made. Have any of you guys received an email for the second tranche of the payments?
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