SVS Securities - shut down?

Sheris

rnf11 said:

Has anyone made contact with the (financial) press over the current state of affairs?

Sill finding the sitution hard to believe what is still going on and no press response, there should be a full inquiry from a indepentdent organization

Brynismydog

LC have transferred the accounts, said that ITI were doing some changes to fix issues and to contact ITI if having account issues.In other words not our problem its ITI issue. 
My take on this is that LC are still responsible as they chose ITI, its not finished until everybody has proper access to assets.

Sheris

Brynismydog said:

LC have transferred the accounts, said that ITI were doing some changes to fix issues and to contact ITI if having account issues.In other words not our problem its ITI issue. 
My take on this is that LC are still responsible as they chose ITI, its not finished until everybody has proper access to assets.

Totally correct and have walked away with millions, my cost is 10k, from L&C for a few hours work, I hope no one gives up on this and keeps fighting for justice 

My2penneth

My wife's accounts that were on boarded on Saturday 1st August are now both "approved".

My 2nd account, that was on boarded on Friday 24th July is still pending. When I on boarded account #1 I provided the Identification docs. When I on boarded the 2nd account, it said that there was no need to provide docs as I had already done this and it skipped over the requirement to upload passport details etc.

"The first shall be last, and the last shall be first...."
  


BTW..I have got through to customer support twice now. That might be twice more than most !!

Standard_Goose

I have decided to transfer everything in my account to my Interactive Brokers account for now. I'll sort out selling my positions and transferring money out once they have it all. I have filled out a load of information on their website (with the assistance of their call centre) and informed ITI by email. I'll let you all know how it goes, but it just seems a lot easier than trying to get ITI to do anything.

Brynismydog

Standard_Goose said:

I have decided to transfer everything in my account to my Interactive Brokers account for now. I'll sort out selling my positions and transferring money out once they have it all. I have filled out a load of information on their website (with the assistance of their call centre) and informed ITI by email. I'll let you all know how it goes, but it just seems a lot easier than trying to get ITI to do anything.

Had you on boarded to ITi ?

englishmas

I think you are right . I think LC has to take responsibility as they are paid for the transfer. We are zhould go back to LC and get press get involved . 
They cannot  wash their hand and walk away 

Danie6

I think I will also tomorrow initiate a transfer to Interactive Brokers. I have now already sent ITI about 15 emails and queries tickets which are just flatly ignored. Impossible to do business on this basis.

Standard_Goose

Brynismydog said:

Standard_Goose said:

I have decided to transfer everything in my account to my Interactive Brokers account for now. I'll sort out selling my positions and transferring money out once they have it all. I have filled out a load of information on their website (with the assistance of their call centre) and informed ITI by email. I'll let you all know how it goes, but it just seems a lot easier than trying to get ITI to do anything.

Had you on boarded to ITi ?

Yes, I agreed to onboard before we got the email making it clear we didn't have to. The process of onboarding then took me over a week, and I currently have an account although I doubt I could do any trading from it and I can't see any options to withdraw the cash either. The simplest route just seems to be to get the assets elsewhere and then worry about it (or not worry so much in this case!).

Brynismydog

Standard_Goose said:

Brynismydog said:

Standard_Goose said:

I have decided to transfer everything in my account to my Interactive Brokers account for now. I'll sort out selling my positions and transferring money out once they have it all. I have filled out a load of information on their website (with the assistance of their call centre) and informed ITI by email. I'll let you all know how it goes, but it just seems a lot easier than trying to get ITI to do anything.

Had you on boarded to ITi ?

Yes, I agreed to onboard before we got the email making it clear we didn't have to. The process of onboarding then took me over a week, and I currently have an account although I doubt I could do any trading from it and I can't see any options to withdraw the cash either. The simplest route just seems to be to get the assets elsewhere and then worry about it (or not worry so much in this case!).

Ok thanks, I would not of onboarded if I knew I did not have too. I am going to do same, have an account with Barclays.