SVS Securities - shut down?

ibs1947

same same here unable to log in...

kencom

Me too, worrying!

Halty2

My problems are similar to most people. Only had an email from ITI relating to one of my 3 accounts, after eventually managing to log in my cash balance shows but not my shares with uploading indicated. I tried to ring yesterday, no answer, left a message, no reply. Tried again this morning, the same. I did however manage to speak to the administrators, the impression I got was that they are in the dark as much as we are and did not expect this. I said I am getting all of my information from this forum and asked why updates could not be put out from ITI or themselves. He said the administrators are reluctant to put anything out until they are sure of the facts which I suppose is fair enough. 

Carols101

Halty2 said:

My problems are similar to most people. Only had an email from ITI relating to one of my 3 accounts, after eventually managing to log in my cash balance shows but not my shares with uploading indicated. I tried to ring yesterday, no answer, left a message, no reply. Tried again this morning, the same. I did however manage to speak to the administrators, the impression I got was that they are in the dark as much as we are and did not expect this. I said I am getting all of my information from this forum and asked why updates could not be put out from ITI or themselves. He said the administrators are reluctant to put anything out until they are sure of the facts which I suppose is fair enough. 

Thanks for posting. Sounds like an “oh dear” response from LC. They don’t want to put anything out until they are sure of the facts, didn’t stop them announcing the “successful” (cough, cough) transfer of all client assets to ITI on the 24th. Systems capacity would have been such an obvious question - what due diligence did they do? So frustrating. The lack of communication is disgusting. 

Good luck everyone, think we need it.

reg_capitulation

general info:
FSCS says- they (Leonard Curtis) are aware of some delays, there is no need to worry as money and assets are all secure. If you need assistance from ITI and can’t get through wait a few days and try again.
FCA- no response
Leonard Curtis- no response
ITI- no response

My2penneth

I've put a complaint into LC at their Manchester office, it is clear that they have not ensured that ITI could handle the new customer base. 

Nbs222

manted said:

anyone able to login to ITI this morning ?
The login page doesnt open up at all 
Same @Carols101

can't login.

error

500 - Internal server error.

There is a problem with the resource you are looking for, and it cannot be displayed.

johnburman

Below is a press release from LC. from their website.
clever wording.  they say "...24th July 2020 clients can begin once again to access their holdings," not that they can actually access their holdings.
And for the record I have no more "patience and understanding" with either LC or ITI
my bold
========== 
24th July 2020 JOINT SPECIAL ADMINISTRATORS OF SVS SECURITIES PLC SUCCESSFULLY COMPLETE TRANSFER TO SINGLE REGULATED BROKER The Joint Special Administrators (JSAs) of SVS Securities PLC today announced that they had successfully completed the orderly and co-ordinated transfer of all eligible clients to a single regulated broker, ITI Capital Limited (ITI). The single bulk transfer of £23.7 million of client money, and client assets with an indicative value at the time of SVS's insolvency of over £250 million, is the first of its kind within the Investment Bank Special Administration regime and will allow more than 99% of SVS clients to regain access to their assets and money from today (24th July 2020) onwards. JSAs Andrew Poxon and Alex Cadwallader of Leonard Curtis Business Rescue and Recovery confirmed that the vast majority of SVS clients became a client of ITI on 11th June 2020, however ITI were permitted a period of up to 6 weeks from 11th June 2020 to finalise preparing its systems in order to operate the new client money and assets accounts. ITI has now completed its preparations and from 24th July 2020 clients can begin once again to access their holdings, and utilise the full range of services provided by ITI. The JSAs were advised by a team headed by Drew Sainsbury, Jake Green and Lynn Dunne from the London office of international law firm, Ashurst LLP. Alex Cadwallader commented: “We would like to place on record our appreciation for the patience and understanding demonstrated by clients of SVS whilst we have worked to secure the transfer to ITI. Completion of the transfer is a huge milestone and concludes a number of months of joint effort and hard work between Leonard Curtis, our legal advisors at Ashurst LLP, the Financial Conduct Authority, the Financial Services Compensation Scheme and other key market infrastructure bodies.” /ENDS For further media information, please contact Sue Souter or Karen Winstanley at Souter PR on 01625 839319 / 07866 676123 or email sue@souterpr.co.uk / karen@souterpr.co.uk. For client and all non-press enquiries, please email your details to: svs@leonardcurtis.co.uk.

shiznit76

Getting same error message too
Hopefully they are just updating their IT side, either that or they are inundated with questions/complaints that they have pulled the plug!
LC must be a tad nervous at what is going on.
If i want to transfer my holdings how do i do it and who do i transfer them too? 

Sheris

Nbs222 said:

manted said:

anyone able to login to ITI this morning ?
The login page doesnt open up at all 
Same @Carols101

can't login.

error

500 - Internal server error.

There is a problem with the resource you are looking for, and it cannot be displayed.

Tried several times and the same problem, phone calls, no answer etc