Global Brokerage files for bankruptcy, delists from NASDAQ

mlawson71

Tham gia từ Dec 11, 2015 1487bài viết

Nov 17, 2017 at 16:21

Tham gia từ Dec 11, 2015 1487bài viết

Global Brokerage, a former partner and stakeholder in FXCM Group, announced it is filing for bankruptcy under Chapter 11 of the United States Bankruptcy Code and is planning to restructure. (https://www.forexbrokerz.com/news/Global-Brokerage-files-for-bankruptcy-delists-from-NASDAQ-FXCM-not-involved)
In the official statement the company also said it is delisting from NASDAQ and is parting ways with some of its board members and senior managers.
According to the official statement, Global Brokerage has entered into into a restructuring support agreement with around 70% of its noteholders.

What will happen to their clients now?

TNguyen

Tham gia từ Jun 20, 2014 41bài viết

Nov 19, 2017 at 07:57

Tham gia từ Jun 20, 2014 41bài viết

Their deposits will be lost unless they are protected by something like Financial Services Compensation Scheme . Remember Alpari UK ?

mlawson71

Tham gia từ Dec 11, 2015 1487bài viết

Nov 20, 2017 at 15:19

Tham gia từ Dec 11, 2015 1487bài viết

Who is actually regulating Global Brokerage now?
They used to be part of FXCM, which is regulated by FCA and ASIC as far as I know, but Global Brokerage separated from them over a month ago (https://www.forexbrokerz.com/news/FXCM-parts-ways-with-Global-Brokerage) so who is regulating them now seems unclear.

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