KPMG update on Alpari UK clients

KPMG, the special administrator of Alpari UK has issued an update, in regard to the status of customer’s access to the claims portal. This particular claims portal was specifically constructed for the needs of customers of the failed brokerage company, in order to get back their insured deposits.

Many of the Alpari UK clients who held trades on the CHF, at the time of the SNB black swan event took place on the 15th of January 2015, have yet to receive access to the claims portal. Although a majority have been able to make their claims accordingly, a vast number of clients have not gained access yet. About 1,200 clients have yet to get final pricing on their trades, who were seen to have open positions at the time of the incident between the period of the 15th and the 16th of January.

The report shows that KPMG has invited about 89,000 clients of Alpari UK, whose deposits were insured for about £50,000 to access the claims portal. These clients will be able to confirm their claim by agreeing, waiving or even disputing the amount they are owed after registering.

KPMG stated that 7,500 accounts are with balances and 6,800 are without balances. All these accounts are yet to be granted the access to the claims portal. Inclusive is also about 1,200 accounts that having placed trades on the CHF.

KPMG will be investigating accounts classified as withheld, in order to obtain detailed client information.

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