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Gerald Segal is a Managing Director at LeapRate, which provides analysis of the Online Forex Trading world. Gerald's reports are a leading source of information on the size, growth and regulation of the Online Forex industry. Prior to founding LeapRate Gerald was an investment banker for 18... More

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My blog:: LeapRate's Forex Industry News

WorldSpreads To Be Shut Down By The FSA 1 comment

Mar 19, 2012 5:42 AM | about stocks: ACIW, AMP, AMTD, AMZN, BAC, BCS, BGCP, BK, BTFRF.PK, C, CM, CME, CS, DB, DJ, EBAY, EPI, ETFC, FTGI.PK, FX, FXCM, GCAP, GE, GOOG, GRA, GS, HBC, IAPLF.PK, IAPLY.PK, IBKR, IFN, IGGRY.PK, IIF, INDY, JEF, JPM, KCG, MCQEF.PK, MNXBF.PK, MNXBY.PK, MS, MSFT, NWS

FSA unable to sell WorldSpreads, will return cash to clients.
The FSA will formally announce Monday morning that it has placed WorldSpreads in its Special Administration Regime (or "SAR"). After a weekend spent going through WorldSpreads records and accounts, and the unwillingness of any other firm to buy WorldSpreads, the FSA and special advisor KPMG decided to wind down WorldSpreads' operations, and return as much cash as possible to clients.
As we reported yesterday, sources including the Financial Times report that as much as £12 million in client money is missing.
For more details see LeapRate's Forex Industry News at leaprate.com.

Themes: WorldSpreads shut down Stocks: ACIW, AMP, AMTD, AMZN, BAC, BCS, BGCP, BK, BTFRF.PK, C, CM, CME, CS, DB, DJ, EBAY, EPI, ETFC, FTGI.PK, FX, FXCM, GCAP, GE, GOOG, GRA, GS, HBC, IAPLF.PK, IAPLY.PK, IBKR, IFN, IGGRY.PK, IIF, INDY, JEF, JPM, KCG, MCQEF.PK, MNXBF.PK, MNXBY.PK, MS, MSFT, NWS

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twohats Comment (1)

http://bit.ly/H6zZ6N There is a good lot of info here regarding the worldspreads current problems Also info for current clients etc.

26 Mar 2012, 11:23 AM Reply Like

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