British investors in failed broker MF Global are to question the efforts of administrators KPMG in London on Monday over the slow progress of recovering funds.
KPMG is holding the event more than two months after MF Global filed for Chapter 11 bankruptcy protection in New York, after making a failed $6.3bn (£4bn) bet on European government debt, writes the Telegraph.
Investors have expressed frustration at the slow progress KPMG has made recovering the estimated $1.2bn of cash and assets frozen when the broker collapsed.
Anant Shah, fund manager at Whitepearls, said the situation might put investors off the UK.
Shah told the Telegraph: "Is there a case to answer that customers are better off trading via an overseas broker given the speed with which monies are returned to them in the event of the insolvency of the broker, even after the FSA introduced the new SAR regime?"
Others say they are keen to find out what fees KPMG is receiving for overseeing the administration.
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