PracticeAccounting FirmsKPMG set to return cash to MF Global clients

KPMG set to return cash to MF Global clients

Pledge comes as KPMG and MF Global clients prepare for a meeting on 9 January

MF GLOBAL UK administrator KPMG plans to start returning to clients the $1.2bn (£774m) of cash and assets frozen at the collapsed broker as early as this month.

The move comes ahead of KPMG’s showdown with MF Global customers next week.

Richard Heis, KPMG’s joint special administrator of MF Global UK told Thomson Reuters on Thursday the administrator had recovered the majority of client monies and almost all the outstanding client assets.

“At the end of December we had recovered some 82% of client monies and substantially all of the client assets. We hope to commence the return of client assets and an interim distribution of monies as early as this month,” Heis said.

Related Articles

KPMG replaces PwC as Croda auditor

Accounting Firms KPMG replaces PwC as Croda auditor

2m Emma Smith, Managing Editor
FRC closes KPMG HBOS audit investigation, Treasury Committee expects ‘full explanation’

Accounting Firms FRC closes KPMG HBOS audit investigation, Treasury Committee expects ‘full explanation’

3m Emma Smith, Managing Editor
Deloitte rises in auditor rankings with most FTSE 250 clients

Accounting Firms Deloitte rises in auditor rankings with most FTSE 250 clients

3m Alia Shoaib, Reporter
Partner joins BDO from KPMG

Accounting Firms Partner joins BDO from KPMG

3m Alia Shoaib, Reporter
EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

5m Alia Shoaib, Reporter
Introduction to KPMG UK’s new leadership team

Accounting Firms Introduction to KPMG UK’s new leadership team

6m Emma Smith, Managing Editor
FRC launches investigation into KPMG’s Rolls-Royce audit

Accounting Firms FRC launches investigation into KPMG’s Rolls-Royce audit

7m Emma Smith, Managing Editor
The importance of investing in people

Accounting Firms The importance of investing in people

9m Emma Smith, Managing Editor