Alpari Japan tells clients to withdraw funds as parent company is insolvent

Alpari’s Japanese division has published a notice on its corporate website, advising that all clients should withdraw their funds, as the Japanese division of Alpari’s parent company is insolvent.

This follows the declaration of insolvency by Alpari UK at the end of the week, following the extreme volatility which arose from the Swiss National Bank’s abandonment of the 1.20 floor on the EUR/CHF pair.

The Japanese subsidiary of the British division of Alpari advises that, as client funds are segregated from operating and trading capital, they will be returned in due course to clients, however operations have ceased, meanwhile Alpari UK has stated that it continues to explore its options and is in search of a potential purchaser.

Alpari Japan is closing open positions in preparation for returning client funds, and no new positions are able to be opened and has received a warning by the Kanto bureau, the Japanese regulatory authority, about the handling of capital and with regard to the necessity to follow certain procedures regarding client funds.

For the official announcements from Alpari Japan, click here, and here.


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