LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
Retail Forex broker Alpari Limited has published a report from Baker Tilly Russaudit on a check of PAMM accounts conducted in October 2015. The report contains the results of a sample-based compliance check of registration data of PAMM Account Managers and verification of certain key indicators of PAMM Accounts, periodically published on Alpari’s website (www.alpari.ru).
The verification process covered 268 PAMM Accounts – they made up the PAMM Account Rating displayed on Alpari’s website as of 13/10/2015.
- Compliance check
This check has shown that all of the Managers, whose PAMM Accounts constituted the PAMM Accounts Rating as of 13/10/2015, provided full sets of registration documents, as defined in the “Internal procedure of documents approval to activate a manager’s offer in the PAMM Account Service”.
The Managers’ registration information, contained in the PAMM Account Service, is in full conformity with the documents provided.
The actual procedure of documents approval to activate an offer is in full conformity with the Company’s internal Rules.
- Verification of the key indicators of PAMM Accounts
The check confirms the validity of the methodology for calculation of Return over period, used by the Company’s information systems, and the principles declared on the Company’s website. The key indicators, declared on the Company’s website, are in conformity with the ones contained in the Company’s information systems.
- Check of the “Equity” indicator
The check had to confirm the presence of accounting and / or bank documents, proving deposit of funds, constituting the “Equity” indicator. Payment documents with regards to the funds, constituting the “Equity” indicator were provided to the consultants in full and in accordance with the sample made, thus serving as proof of incoming payments made by the Company’s clients through banks and payment systems.
The full report can be viewed by clicking here.