KPMG launches Claims portal for Alpari UK clients


Surely, KPMG, special administrators to Alpari UK are making strides in dealing with the entire financial situation of the defunct broker, and making good on their promise that returning of client funds remains a priority, following concerns by clients that getting impatient, with the majority holding the opinion that the administrators are more concerned with selling the company, therefore relegating the issue of client refunds into a secondary mission.

The special administrators have reported that the claims portal for Alpari UK clients, where they can make their demands for refund is about to go live. It is expected to be a test run with 500 initial clients. A random selection is likely to be made of clients who will be chosen for the initial test run. Eligible clients for the selection process has to be those with cash-only balances, with no open positions as of the day of the pathetic SNB event which sent the firm into bankruptcy. Emails will be sent regarding this to the chosen participants, informing them on the process of stating their claims.

The wisdom behind first utilizing 500 clients is to test run the functionality of the portal, as over 100,000 clients are expected to use this eventually. Unfortunately, clients who had open positions as at the time of the historic event will have to wait a while longer, anticipated around the end of March, to be able to state their claims.

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All things being equal, all other eligible clients will be invited to stake their claims on the claims portal by next week Friday if all goes well.

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