SVS Securities - shut down?

9406824

Hi if I’m looking to make a complaint to the FCA about ITI capital do I do directly via phone or email?

johnburman

As story to while away the hours (as i am on hold to customer support as i type this)
When i onboarded my mobile and landline number ws transposed by ITI.  thsi is obviously a security risk and so on *3 AUGUST* I sent them a request to change it and a ticket wa sissued.  That is on my account.  That ticket is still "open". No acknowledgement or receipt for it has been received and no action has been taken.
THIS IS NOT HOW  A UK REGULATED FORM SHODUL BEHAVE
I want out to a new sensible broker ASAP.  That request also made over 3 weeks ago is being ignored too.

PS - my call still has not been answered 
now gon to call back message.  Which i have left.   No hope of a call though.  I wonder for how long the FCA will allow this to continue?
 

My2penneth

ITICAPITAL said:

Hi if I’m looking to make a complaint to the FCA about ITI capital do I do directly via phone or email?

You can do it via the phone. The number is available on Google but was mentioned here a few pages ago by johnburnham.

page 288.

My2penneth

I just hope ITI stay in business long enough to get our assets transferred. The way they're shaping up I can see LC being busy again! 

manted

Wanted to post this update for folks who were asking if SJS are affiliated with ITI capital.
https://www.leonardcurtis.co.uk/wp-content/uploads/2020/08/SVS-Securities-PLC-Client-Update-21.08.2020.pdf

jenwrendorset

I have reached the point in this sorry saga where I feel a letter of complaint (or 3) is required - we're juggling 4 accounts, 3 appear to have got as far as the on-boarding stage and our shares all appear to be there (well they were yesterday !), still, of course, missing the VOD dividends but no-one else seems to have received them either.  Our personal information is also up the creek and like most others on this site we are now US residents however this morning I had an email regarding the 4th account - for this they want us to complete a W-8BEN form and CRS Self Certification form !!!!! From my 'googling' I realise the first form relates to our adopted country of residence (USA) - why we need to fill up the other one, heaven knows but as we haven't got one we haven't.  Anyway my question - should I be directing my complaint initially to David Moss @ ITI, or to FCA direct.......I'm inclined to send to both but any suggestions would be appreciated.  We've completed withdrawal forms and transfer forms but hey ho....nothing as yet !!  

My2penneth

If you live in USA then you don't need a W8-BEN form.. If you live in the UK then you do! 

You need to complain to D Moss first before the FCA as he might reply and sort the problem.....then again Bolton might win the World Cup ( more likely).

johnburman

Wonder what they have against VOD...I'm missing my divis from them too
COMPLIAIN TO THE FSA FIRST
Get that recorded by them, to be added to the others. 

Whether you complain to Moss at ITI as well is up to you.  I got a nice long 100% standardised response not dealing with any of my queries at all when I compalined.
But complain to the FSA.  Give them the details and get it on file with them.  So when they ask ITI, if they are told a "teething troubles" response, they will know the truth.  

shawdon

Still no transfer to my new broker, still waiting for my Vod dividends to arrive, still no reply from ITI to my emails or tickets, still my dashboard is showing incorrect data, still my Phoenix accounts are all blank, still my cash figure on my dashboard is wrong as i have withdrawn all of the cash, apart from that well done ITI for a complete shambles. I spoke a senior manager at LC this afternoon who confirms that the FCA are very actively investigating ITI now so we may get them to give them a kick up the proverbial backside! Also alerted the top guy at ShareSoc to the debacle so we may well get some improved press coverage to support our position and warn others about ITI and the very weak input from the FCA thus far.

Nbs222

just received the following email From ITI, nothing new , no mention of what is happening with Transfers. surely sensible thing for them  is to  go thru all the transfers received and  start processing them  instead of loading their data onto Phoenix

--------------------------------------------------------------------------------

Based on feedback from a number of clients, we believe the following information may be useful for you no matter which stage you are in the process:

 
If you had multiple client logins at SVS, you will receive an email for each login.

Your Welcome email will contain an ITI Username, please use this to log in and not your email address.

You will need to have the following to on-board as a client:

• A device which has a camera and is able to connect to the internet
• A valid proof of address
• A valid proof of ID

Registration and Off-boarding instructions are available here.

Our FAQs are available here.

Our registration and off-boarding platform is not a trading platform. It was built to help you electronically navigate your decision and help verify you for security and regulatory purposes.

When you have successfully been verified and on-boarded, you will receive an email with credentials to our Phoenix Trading Platform. This should take no longer than 48 hours.

After you have received access to your Phoenix Trading Account, it may take up to a week in order for your shares to become visible on this platform, at which point, you will be able to trade them electronically. This is because we transfer your shares from a preliminary holding account, line by line based on a careful reconciliation to the trading environment.

In the meantime if you would like to trade shares you can do so via telephone on 020 7562 8001 and select the option for the Dealing Team. Please note, in order to trade, you will still need to have verified your account using our on-boarding process. We will honour the online execution rate of £7.95 for telephone trades up to the point your shares have been transferred to Phoenix, after which point telephone trades will incur the normal telephone rate.

If you are experiencing issues, please on first instance refer to our updated FAQ section here

The pricing on our registration and off-boarding platform is delayed and may produce an incorrect valuation, we are aware of this and are currently working on a resolution. Please note that this should not affect the integrity of your stock positions.

Due to the volume of calls and emails we are receiving, you may experience a greater than usual response time.
 
We appreciate your patience during this period and look forward to welcoming you as a customer of ITI Capital.