Premier FX customers have been advised by administrators PKF Geoffrey Martin & Co to contact them in order to see their queries and concerns addressed.
A statement has been posted by PKF Geoffrey Martin & Co on the Premier FX website (www.premierfx.com) to inform customers of what they need to do now, while the Joint Administrators carry out “their statutory investigations into the business”.
The Financial Conduct Authority (FCA) in the UK has further added that it “will continue to work closely with the firm during the administration to ensure that customers are treated fairly”.
Those affected by the liquidation of Premier FX should now contact administrators PKF Geoffrey Martin & Co:
Brooke Overton-Yorke: 0044 207495 1100 | premierfx@geoffreymartin.co.uk
Address: PKF Geoffrey Martin & Co, 1 Westferry Circus, Canary Wharf, London, E14 4HD
Several customers have also reportedly made contact with the Financial Services Compensation Scheme (FSCS), the UK’s statutory Deposit insurance and investors compensation scheme for customers of authorised financial services firms, to discuss the likelihood of compensation. Website: www.fscs.org.uk
Administrators are now expected to report to the FCA and the FSCS about the financial situation of the company.
Meanwhile, good news has started to emerge from the Premier FX ‘scandal’ that rocked the Algarve almost a month ago, leaving hundreds of families in the lurch.
Dogged persistence of clients who unwittingly sent funds to the foreign exchange company days after it had ceased trading has been rewarded.
At least two have finally seen those funds returned to the bank accounts which they used to make the transfers.
Says one: “It has been a significant battle with Barclays (mine and Premier’s bank) at the highest level.
“I am just mentioning (this) for anyone else who made a transfer post July 27 to keep on battling with the bank(s).”
This is being seen as the first ray of hope in a situation that has left many hugely apprehensive about forex companies that assure clients their money is ‘safe in transit’ and “fully protected by law”.
Premier FX’s blurb that “client funds are held in secure, segregated accounts at Barclays Bank in London” is still to be confirmed as administrators PKF Geoffrey Martin & Co, of Canary Wharf, London, move in on the company that closed its doors with no advance warning around midday on July 27.
Millions of euros are at stake, and the levels of stress and hardship suffered by families here, in Mallorca (Spain) and UK have, we are told, been communicated to all the authorities now in action.
We have also been informed that administrators should be ready with ‘results’ within the next weeks.
PHOTO: SARA ALVES
