29th of April 2012 Author: Johnny Karp
Central Bank lifts its suspension on the spread betting company
After imposing a suspension on April 5 on financial spread betting company MarketSpreads, the Irish Central Bank decided to lift it after investigating the firm's capital adequacy and audit opinion issues.
These issues reportedly covered the period immediately before Marketspreads' current owners bought the business from its previous shareholder, Worldspreads plc.
On Apr. 27, MarketSpreads issued a public statement, saying that the firm '...has now dealt with the legacy financial issues that had caused concern to the Central Bank and has reopened with a stronger capital base. Client funds have been, and will continue to be, 100 percent safe, intact and properly segregated.'
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