SVS Securities - shut down?

Icyberg

Something positive to report. Following 5 requests (4 ignored) for a cash withdrawal, a credit has now appeared in my bank account for the full amount. I guess it's now the start of a long wait before my deflated equities are eventually transferred out to a reliable broker.

gibson81

My2penneth said:

johnburman said:

Interested to hear of your contract notes story. I didn't get one for around 9 days and then after a reminder I got one... With the right share and right number but the wrong price. Sent off complaint and am awaiting corrected note. I have NEVER known a broker to make such an error. Something is very wrong in the world of ITI Capital.
As you say as soon as I am transferred out the better, but the request went in 5 weeks ago and nothing has happened. 

Yeah, saw that ( £11 per share cost £18 ...what the deuce?).

Speaking with an iWeb representative yesterday,  they reckon one of my accounts ( of two) has moved on to the next stage of transfer ( valuation).  I asked the iWeb guy to make a note in the file that there might be errors...which he did. If there were errors, he said iWeb would work with ITI to resolve. 

Wonder why one account (my non ISA) is more advanced than the other....oh, well, am I REALLY surprised? 

TBH..if ITI transfer over the shares correctly to iWeb, my gast will be flabbered!

What responsibilities does ITI have regarding transfers out? I put requests in early August and they are being ignored. Surely once they receive a request, they are to action it promptly?

manted

My2penneth said:

Has anyone had any negative cash balances( shown in red)....shown separate to a positive cash amount? 

Yes, I have that - some adjusting entry on the cash when i have not done any transactions with them at all

Monsieur_Bourse

That is good news indeed mf11 to hear that ShareSoc are involved in our plight, thanks for posting that information. As stated by the ShareSoc Director they are prepared to take this to the highest level. They seem scathing that ITI were approved as the broker and probably totally amazed that they were chosen with the blessing of the FCA.

As I have previously stated I think that LC and the FCA have a lot to answer for.

Nbs222

Our status today

ISA cash doesn't show in two accounts  either in PX or Qort , cash  has just disappeared.

In the third  PX account account does show ISA cash.

 Stock holdings  positive and negative  ,  but  corresponding PX  account has no stocks and cash. So where are the stocks and Cash gone.

 

Two accounts on the dashboard are no longer duplicated, but have zero values, one account is still duplicated

 

 For one account Received email from  customerservice@iticapital.com saying Phoenix "Monthly Activity Statement" is available for a U****   account , what activity,  have not even logged in PX account.

 

Like MY2penneth have positive and negative values in red  for an amount I believe to be dividend.

 

Nothing correct, nothing makes sense.

Brynismydog

Just had emails from iti , monthly activity statements. What a joke, cannot do any activity with this set up. 
How about everybody raising this fiasco with their MP's to ensure this does not happen again, just a thought.

sweeter_strudel

Hear hear Monsieur_B!

Well said!

collin618

Yes just the cost of the online trade though

Danie6

At last! After sending them 13 requests since 27 July 2020 to transfer my cash to my bank account without any reply, it finally showed up in my bank this morning. My shares have been transferred out a while ago and I am now free, 10 years older and lost 20 years' sleep. Now I can start working on another claim to the FSCS.

shawdon

Mark Bentley has now posted the ShareSoc article on line which will give us great momentum is resolving our issues. Next steps are a formal escalation through the FCA and also parliamentary input if required. My MP is a certain Dominic Raab so I will be happy to request that he gets involved if needed.

https://www.sharesoc.org/sharesoc-news/svs-special-administration-a-scandal-in-the-making/