SVS Securities - shut down?

Jamesram

Michael_Reynolds Yes, forgot to mention he is also on twitter @olegjeleszko

"Sorry to spoil the friendship so soon but I've just sent me more abuse. God I am so tired of all this"

Yes you do seem a little tired today Michael.The general idea I was proposing recently was to send ITI senior people some home truths. I am not sure if you have quite got the hang of this. Don't take it out on yourself - as I said recently, its all ITI's fault, not yours.

Emillion1

You can't complain to FOS until the firm has dealt with your complaint and given you a "Final" response.  You need to complain to the firm in the first instance.  They have 8 weeks to reply with a Final outcome 

Jamesram

Emillion1 said "You can't complain to FOS until the firm has dealt with your complaint and given you a "Final" response.  You need to complain to the firm in the first instance.  They have 8 weeks to reply with a Final outcome "

Quite agree of course, but if David Moss sends you a half-baked inadequate response and doesn't say " I will come back to you fully later" or some such wording, then my view (which I have adopted with my complaint), is that that was ITI's "Final Response/Outcome". If you have such a response, you do not need to wait the balance of the 8 weeks, IMHO.

Monsieur_Bourse

Emillion1 said:

You can't complain to FOS until the firm has dealt with your complaint and given you a "Final" response.  You need to complain to the firm in the first instance.  They have 8 weeks to reply with a Final outcome 

It doesn't state that in the link that My2penneth posted. There is a pull down box asking if you have received a final response which has the option to answer Yes/No.

Emillion1

Jamesram said:

Emillion1 said "You can't complain to FOS until the firm has dealt with your complaint and given you a "Final" response.  You need to complain to the firm in the first instance.  They have 8 weeks to reply with a Final outcome "

Quite agree of course, but if David Moss sends you a half-baked inadequate response and doesn't say " I will come back to you fully later" or some such wording, then my view (which I have adopted with my complaint), is that that was ITI's "Final Response/Outcome". If you have such a response, you do not need to wait the balance of the 8 weeks, IMHO.

Jamesram,  If you have a complaint I would suggest you do it formally, email should be sufficient, ITI should have their complaints policy on their website.   They are bound by FCA rules to acknowledge your complaint and deal with it.  The rules are specific.  It may however hold their feet to the fire and prioritise your issue with them.  If you Google FCA Handbook DISP 1.4 it should give you an understanding of the firms responsibility regarding complaints.

Jamesram

Emillion1 said Jamesram,  If you have a complaint I would suggest you do it formally, email should be sufficient, ITI should have their complaints policy on their website.   They are bound by FCA rules to acknowledge your complaint and deal with it.  The rules are specific.  It may however hold their feet to the fire and prioritise your issue with them.  If you Google FCA Handbook DISP 1.4 it should give you an understanding of the firms responsibility regarding complaints

.

Reply: Sorry if i have not been clear- I made a Complaint to ITI about various things in early August, using the Complaints system webpage which if I recall gives a brief outline of ITI's responsibilities and tells you to use Complaints@ITI etc. David Moss, Head of Compliance replied. Inadequately. He did not say he would contact me further. So that was his Final Response, in my firm opinion. Hence I have already complained to FSOmbudsman on that basis.

DianaMusic

I have been contacted by claims management company  SFE Associates as was probably mis-sold shares by SVS. Has anyone else been contacted and do we know if they are sound? Thanks.  DianaMusic

johnburman

TO ALL THOSE WHE WERE (OR BELIEVED THEY WERE) MISSOLD ANYTHING BY SVS
1  This is not the correct forum for this
2  Be careful of the various claims management companies touting for business
3  If your loss is for £85k or less (per individual) make a claim on the FSCS
4  If your loss was for more than £85k - were you advised into making the transaction by a company/person.  Are they still in business (check at Companies House - SVS are insolvent).  If they are they are almost certain to be insured....but do not delay.  If not is the individual still about - you will likely need a solicitor, but you can sue them personally [they may or may not be covered by insurance/may or may not have assets to pay any claim.]  Again do not delay.

In all cases see if they are on the FCA Register.  Make a claim against them.  If you don't think you can claim yourself my view is to go to a proper solicitor not a claims management company.  If you think you can do it yourself, do so, and do not go to a claims management company.

Remember in you claim to say what instructions you gave about the risks you wanted to take and what you were told (by whom and when) in relation to thise risks, and what tey tod you abou the product sold. 

Remember in all cases you need to establish that you were 'missold' the financial product.

n_aftab

DianaMusic said:

I have been contacted by claims management company  SFE Associates as was probably mis-sold shares by SVS. Has anyone else been contacted and do we know if they are sound? Thanks.  DianaMusic

svs used to call me all the time trying to sell me crappy aim stocks .. i watched a few of them, mobile streams as an example ... take a loot at how that turned out ... 
never take advice from a brokerage on what to buy .. too many conflicts 

collin618

Has anyone had a Discretionary SIPP login yet?