£13m black hole at spread bet firm

WorldSpreads, which runs online and telephone trading services, was placed into administration over the weekend after "accounting irregularities" were found.
Administrators at KPMG said the group's 15,000 customers were owed £29.7 million but the group has only £16.6 million of cash, leaving them facing a large shortfall.
However, customers may be reimbursed up to £50,000 by the industry's Financial Services Compensation Scheme, depending on their circumstances.