Alpari Japan K.K. is under Administartion 

Japan’s financial Services Agency released today that Alpari Japan is also under Administration following parent company Alpari (UK) Ltd.

Japan’s financial Services Agency statement points that, based on both:

• the current situation of Alpari (UK) Limited, a parent company of Alpari Japan K.K. and
• the relationship between Alpari (UK) Limited and Alpari Japan in terms of capital and transactions, it is necessary to fully ensure that interests of creditors and investors are not damaged by the outflow of Alpari Japan’s assets to overseas affiliated companies, etc., triggered by the announcement of Alpari (UK) Limited.

Therefore, Kanto Local Finance Bureau issued administrative orders to Alpari Japan on 16th January, 2015 based on Article 56-3 and Article 51 of Financial Instruments and Exchange Act.

(1) Order of retention of assets within Japan (Article 56-3)

Alpari Japan has to retain certain assets within Japan equivalent to all liabilities excluding liabilities to overseas (including guarantees).

(2) Business Improvement Order (Article 51)

• Accurately identify investors and assets deposited from investors.
• Take necessary measures to assure deposited assets from investors and not to inappropriately consume the company’s assets.
• Take full measures for investor protection, considering equitable treatment among investors.
• Keep investors informed appropriately about retention of deposited assets, with due care to investors.

Source: FSA – Administrative Actions on Alpari Japan K.K.

 

 

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