WorldSpreads workers laid off as firm winds up March 20, 2012 WORLDSPREADS administrator KPMG put most of the defunct betting firm’s staff out of their jobs yesterday as it began work to wind up the company. Fifty two of the spread betting firm’s staff were laid off, leaving 12 to help find millions in missing client money and divvy up its remaining assets. It is understood that KPMG [...]
WorldSpreads clients await losses as ETX eyes up assets March 19, 2012 ETX Capital is poised to mop up leftover assets from the spectacular collapse of its rival WorldSpreads as the firm’s administrators start work on finding millions in missing client money. ETX, a rival to spread betting firm WorldSpreads, which went into administration over the weekend, is most interested in snapping up technology assets and the [...]
Where’s my money? What to expect if you had a WorldSpreads account March 19, 2012 ● STAKE YOUR CLAIM Administrator KPMG will have details of all account-holders but you can call them to get any further information and make sure you are in line to receive further updates. The relevant number is 020 3284 8829 and you can check for news on www.worldspreads.co.uk. ● UNDER £50,000? DON’T WORRY Under the terms of the Financial [...]
KPMG called in to clear up the mess March 19, 2012 FRESH from its appointment to administrate MF Global UK, KPMG is back in the spotlight as the firm to come in and clean up the mess left by the collapse of WorldSpreads. The two cases both involved alleged mixing of client and company money, but while MF Global was a huge multinational broker, WorldSpreads is a relatively [...]
Dim view of banks puts the brakes on FTSE 100’s rally March 19, 2012 BRITAIN’S top shares eased back from last week’s 2012 highs yesterday, as weakness in banks after recent strong gains overshadowed a late-session recovery from miners, with investors awaiting the next catalyst to drive the market. The benchmark FTSE 100 index closed down 4.47 points, or 0.1 per cent, at 5,961.11. Banks, which spearheaded the FTSE [...]
WorldSpreads plunges into administration March 19, 2012 Financial spread-betting company WorldSpreads Group, which suspended its shares last week over possible irregularities in its accounts, has gone into administration and warned it owes clients millions of pounds. The Dublin-based company, which runs online and telephone trading services, said on Monday Jane Moriarty and Samantha Bewick from accountancy firm KPMG had been appointed as [...]
Search on for betting client cash March 18, 2012 SPREAD-BETTING firm WorldSpreads was forced into administration yesterday after the discovery of “accounting irregularities” proved too serious to avoid collapse. Thousands of clients stand to lose out after the Financial Services Authority (FSA) warned last night that there could be a “shortfall in the client money accounts” but said it will “will return as much [...]
London top dog for investments March 15, 2012 LONDON remains the most attractive city for global investment, according to a study by KPMG. Shanghai and Hong Kong are close behind, however, and other emerging market cities are catching up, KPMG and the Greater Paris Investment Agency said in an annual report. Sao Paolo enjoyed a 160 per cent surge in international investment over [...]
CITY MOVES | WHO’S SWITCHING JOBS March 14, 2012 KPMG Forensic KPMG has announced the appointment of James Siswick as director of its financial services forensic team. He will help drive the expansion of the firm’s financial crime business, with anti-money laundering and sanctions as his key areas of interest. Siswick joins after fourteen years at Deloitte, where he most recently worked as director [...]
Simon Collins wins vote for KPMG chair March 12, 2012 KPMG’s new UK chairman elect Simon Collins yesterday vowed to put his firm at the centre of the debate on how to win back trust in the financial services sector, as he celebrated his election victory against two better known rivals Oliver Tant and Alan Buckle. Collins, who is currently global head of KPMG’s transactions [...]