London police to join probe into Irish spread-betting firm

Britain’s financial watchdog, the Financial Services Authority, is expected to draft City of London police into the investigation surrounding financial irregularities at Irish-founded spread-betting firm, Worldspreads, in the coming days.

Any criminal investigation would then run its course before the start of a regulatory probe.

The company, which was formed in Dublin in 2000 but sold its Irish business nine years later, went into administration on Monday, with KPMG being appointed by the High Court in London.