London Capital faces £7.7m bill


first_img Spread-betting firm London Capital Group could be forced to pay £7.7m by the financial ombudsman. The regulator ruled that the company, which provides online gaming platforms for Paddy Power and PartyGaming, must repay £100,000 to clients who lost money on a third-party currency fund. The fund, provided by London Capital yet sold by Integrity Financial Solutions (IFS), reportedly lost investors thousands of pounds. A further 114 clients who say they lost money in the fund have come forward, bringing the claim total to approximately £7.7m. Hampshire-based IFS, part of parent company UK Integrity Group, was said to be under investigation from the Financial Services Authority over its sales practices, yet went into liquidation in October 2009.Clients who had invested in the fund then turned to the Financial Ombudsman in an attempt to claw back lost cash. The new ruling comes after no action was initially taken against London Capital. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Tags: NULL whatsapp Monday 14 February 2011 9:58 pm More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKansas coach fired for using N-word toward Black playerthegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comcenter_img KCS-content Show Comments ▼ whatsapp London Capital faces £7.7m bill Sharelast_img

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