4th March 2015
The Financial Services Compensation Scheme (FSCS) has investigated the nature of Alpari (UK) Limited’s business and has concluded that valid protected claims are likely to arise. As a result, we have been working with the Joint Special Administrator’s (JSAs) to confirm how our claims’ process will dovetail with theirs.
The Joint Special Administrators of Alpari (UK) Limited are currently contacting the majority of clients who held only cash balances on all of their accounts as at 9:00 GMT 15 January 2015 and who entered no subsequent trades. These clients are currently being invited to agree their account balance(s) and submit a claim to the JSAs. Clients will be emailed by the JSAs to confirm they are able to access the JSA Claims Portal and an update will be provided on www.kpmg.com/uk/alpari.
The claim agreement process will be carried out via the dedicated JSA online Claims Portal. If you wish to make a separate claim for compensation to FSCS, please indicate your intention on the JSA Claims Portal. FSCS will pay valid claims on the basis of account balances agreed on the JSA claims portal. Any acceptance by you of FSCS compensation will result in your entire claim to the JSAs being transferred to FSCS and FSCS will receive any future JSA dividend that would otherwise have been paid to you. However, you may be entitled to some or all of those dividends if your claim is in excess of FSCS’s compensation limit of £50,000. Once the JSAs have notified us of your intention to make a claim to FSCS for compensation, we will contact you.
We will publish an update with more information in due course.