18th May 2015 13:19
LONDON (Alliance News) - Contracts-for-difference company Plus500 Ltd has suspended some of its UK accounts pending customer verification measures related to money laundering investigations, according to a statement on the company's website.
The company said in the statement that it has a "regulatory obligation to comply with the UK Money Laundering Regulations 2007 and other rules and guidance which requires us - amongst other things - to identify and verify our customers, the nature and purpose of the business relationship and source of funds."
"While we understand the inconvenience this will cause, we have no alternative but to place a restriction on your trading account until such time as we have been able to undertake a complete review of the documentation and information we currently hold on you," the company said, in a statement published on its website.
The company didn't say how many accounts have been suspended.
Shares in Plus500 were down 33% to 500 pence on Monday, the worst performer in the AIM All-Share index in afternoon trade.
By Sam Unsted; [email protected]; @SamUAtAlliance
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