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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Worldspd | LSE:WSPR | London | Ordinary Share | IE00B2357Y89 | ORD EUR0.015 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 37.00 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
19/3/2012 22:23 | They don't hold the physical stock, CFD's only. | xclusive2 | |
19/3/2012 22:14 | well, for one stock i was long on, it does not seem to have been sold in the market today, of that I'm sure. Might sound a silly question but, i had expected some stocks to be hit today with forced sales as a result of this ... cant say that i have seen any of this action so, when, where & how will stocks be sold in line with forced positon closures? | mattjos | |
19/3/2012 22:07 | Steve - it sounds like you were talking at cross purposes and she thought you meant would their be any money after administration i.e. any money for shareholders. Looks like 45% to 50% return realistically for clients. They are also owed 1.45m but I doubt if they can get that during this timescale. Not sure if there are any assets to sell aside from the client list. The unknown factor is whether the stock was hedged and, if so, whether they are selling it at the closing price they marked it at during the weekend. | nasdaq_investor | |
19/3/2012 21:05 | RNS Number : 6323Z London Capital Group Holdings PLC 19 March 2012 Statement re Worldspreads Limited London Capital Group Holdings plc notes that Worldspreads Limited has appointed Joint Special Administrators following the identification of a material shortfall in client money. The Company has no financial exposure to Worldspreads and no commercial contracts of any nature with Worldspreads. LCG does not utilise retail client funds for its own or any other purpose. Retail client funds are fully segregated at all times whether required by regulation or not. For further information, please contact: | masurenguy | |
19/3/2012 20:46 | spoke withj KPMG this pm .. despite a long delay, they seemed on top of things. Details on how to submit a claim will be posted on the old WS website shortly. They took all my details and logged the enquiry. Whereas the FSA were completely useless .. i wouldn't bother to phone them at this stage. miti ... i fear you are probably right. like all the big accountancy firms, KPMG will know how to draw this out and milk the fees, certain in the knowledge that whatever they dock from the receivables will, in part, be made up by the FSA. Still, its not KPMG's fault. Can't do much about it at present other than try to make it up in the market elsewhere | mattjos | |
19/3/2012 20:36 | From the FSCS website; Worldspreads Ltd - update for consumers 19th March 2012 The Financial Services Authority (FSA) has announced that Worldspreads Ltd has entered the special administration regime. The Financial Services Compensation Scheme (FSCS) is aware of the situation with the firm and is working with the administrators, KPMG, to understand how the firm's failure might affect consumers and the role FSCS might play. The FSCS protects consumers who lose money when authorised financial services firms go bust. It is liaising with the administrators and the FSA to get the information and data it needs to analyse potential claims under its rules. Customers of the firm should contact the administrators for more information on the failure of the company and what it means for them. The number is 020 3284 8829. FSCS Chief Executive Mark Neale says "We are working closely with the administrators and the FSA to understand the scale of consumer losses and potential claims for the FSCS. We will do all we can to provide certainty to customers of the firm as soon as possible. There is no need to contact FSCS at this time. Please direct any enquiries to the administrator. We will publish an update on our website as soon as we are able to provide more information on the potential claims and the process we will use to settle them." | and then | |
19/3/2012 20:22 | taximania, I had money in icesave as well( was one of their biggest depositors in the uk, phew!!) and the process was quicker cos it was simple bank deposit story. Companies such as wspr going bust will take much longer...no chance of FSCS paying out in 6 months imo esp. as there is fraud involved here. As an example,I had around 40k at mfglobal and so far have just received an interim cheque of around 10k(that from the liquidator)even though my claim has been made to the FSCS.So don't hold your breath!!The longer the liquidator drags it out , the more in fees they earn. | miti 1000 | |
19/3/2012 20:20 | surely itll depend largely on how long it takes em to sort out the books, and work out how much of the missing money can be recovered; if the investigation is all wrapped up in April i imagine money will be forthcoming faster than if it drags out for a longer time. | enigma2002 | |
19/3/2012 20:14 | mti ...so you are saying 6-12 moths before either fsa pay up or outstanding funds are dished out ? if so it would have benn better if they had spent the lot ! i had money in the iceland debacle and think fsa paid out in around 8 weeks , was hoping for something similar this time ! | taximania | |
19/3/2012 20:07 | Unfortunately, I've been through this a few times before...i.e globaltrader, mfglobal. Anyone expecting their money back or interim payments will have to wait a minimum of 6 months and I suspect a good while longer in this case.This looks like it will get messy. Regarding being segregated, it is important to be classified as such as they get their money before non-segregated clients .The problem is even if you have a Worldspreads letter stating your account is segregated , this doesn't protect you. It has to shown that your funds were kept at all times in segregated bank account and not mixed with other company monies. If your segregated money was mixed , then you lose the status of a segregated account. This happened to me at globaltrader and was contested in court whose judgement was held against me and another client.Needless, to say, all court costs in this mattar were taken out of the overall pot. The liquidators will have a field day and you can bet this will drag on for ages at huge expense. I won't even go into the intracacies of closing out of positions etc but I suspect these will follow in the course of the next few weeks and its pot luck for the majority!! Those accounts having less than 50k will be fine and will be reimbursed in full by the FSCS. Unless there are other unknown problems or frauds, it seems likely that the others will get around 53% max. if they are segregated or lower than this if they lower in the pecking order of creditors eg. non-seg clients(since they will have to cough for all the costs incurred). Simple it ain't!!! (glad to say in this case, I had just 35k in my wspr account so no big deal). | miti 1000 | |
19/3/2012 16:12 | T/M Thanks for the info. I only found out this morning so a bit behind the curve so to speak. | lift and shift | |
19/3/2012 16:09 | I have just had a cal from Gurpal Singh Broker Executive gurpal.singh@twowaym +44 (0) profuse apologies for the mess at twowayspreads , telling me not to worry my money is safe and that 'they' will look after all private clients ...then bizzarly a link to another spread betting site ....i have no idea who these people are but it sounds like they have got hold of the client list and are touting for trade although the guy had me convinced he was calling from worldspreads to put my mind at rest ! | taximania | |
19/3/2012 15:52 | lift and shift , they closed everything out at the max spread price ie the one that would have been showing on your account at the close on friday ...they didnt do it by market price just at the top and bottom of the price range depending on whether you were short or long ...more money down the drain :-) edit : check your last contract note ...the closing prices of positions were the same | taximania | |
19/3/2012 15:32 | How do you get to £110000,Richards? | mikeja | |
19/3/2012 15:28 | How do you get to £110000,Richards? | mikeja |
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