SVS Securities - shut down?

Michael_Reynolds

snipkin said:

"Perhaps more of us should email the MD - and force him to be 'aware' and 'involved' in the situation - like us who have no choice".

There are two managing partners of Da Vinci which owns ITI. When it comes to Russian dummies these two are the highest you can go.  EMAIL OLEG THE CHAIRMAN OF DA VINCI. HE'S A DEARLY BELOVED FRIEND TO ALL LOST AND DISILLUSIONED SVS CLIENTS!. oleg.jelezko@dvcap.com

My sincere thanks to Jamesram who did ALL the leg work on this discovery

Michael_Reynolds

SteveJohnson56 said:

Looks like I will be sitting here all night, funny thing is with the on-boarding it accepted my out of date invalid passport!

THAT IS SIMPLY STAGGERING NEWS!

IT TAKES REAL TALENT TO DEVELOP THAT LEVEL OF INCOMPETENCE! A LONG SPELL IN THE GULAG IS THE REQUIRED PRESCRIPTION

Josl

Finally some good news. Just got a message from Barclays Investments that valuations sent over by ITI Capital have been confirmed and a date for transfer of both accounts has been set for next week. Cash holdings have also been paid to my bank today.
I would like to thank prominent forumite who engaged in thoughtful messages with me. I wish all of you best of luck with your transfers. 

shiznit76

Could we have a winner in the first escapee stakes?

SteveJohnson56

Must be 4 hours now and the upload documents are still stuck. Another complaint going to LC tomorrow.

rnf11

RasputinB said:

Have a look at page 13 Section 8 of the Distribution Plan.

This is the paragraph that I like -

8.5 The Transferee shall not, without the prior written consent of the Transferor and the Administrators or unless required by law, include in any communications (written or otherwise) to Clients any reference to the rights of the Clients to Reverse Transfers nor shall they encourage (whether in writing or otherwise) any such Clients to demand a Reverse Transfer.

Prescient - considering the mess they were setting up by selecting ITIC.

I am now starting to see reports of ex SVS clients whose holdings - after all this time - are now found to be not acceptable on ITIC's system. This is clearly on a par with miss-selling and should be dealt with accordingly.

Note that LC have never stated why they would not split the SVS clients up by type, eg. UK x-o share dealing, forex, overseas so that we would have ended up with more suitable brokers. PWC were able to do that with clients who were previously clients of BACSL's Colwyn Bay office in the course of the Beaufort Securities Special Administration..

LC - how about some contrition?

My2penneth

ITI have told me some shares are not supported on Phoenix. That is why they are stuck in the holding account.

Doesn't explain why they can't transfer my wife's Hargreaves shares from Qort to Phoenix.....after all, I actually bought Hargreaves shares on Phoenix ( where they are supposedly not supported! ).

Looks like iShares are not being moved neither...even though one can log onto Phoenix and get a price under " Trade".  

I really don't understand what their problem is...it seems they are deliberately making things difficult.  Setting up the ITI call centre in South Africa might be cheap but it is bad idea ( and I wasn't best pleased when the lady on the other end of the phone hung up on me for no reason).

My2penneth

This thing about dividends.....when HMRC get involved it will get very sticky for ITI senior management.  

toad333

Hi guys

I’m an overseas client. Was open-minded about ITI, but have now opened an account with Interactive Brokers in the US. No cheap options for British expats in the U.K.

I think I will sell everything and transfer the cash to Interactive Brokers. Not sure if they transfer to accounts
outside the U.K.

And still waiting for access to my account! 

gibson81

Josl said:

Finally some good news. Just got a message from Barclays Investments that valuations sent over by ITI Capital have been confirmed and a date for transfer of both accounts has been set for next week. Cash holdings have also been paid to my bank today.
I would like to thank prominent forumite who engaged in thoughtful messages with me. I wish all of you best of luck with your transfers. 

Good news. I was told my transfer would take 4 to 6 weeks but this is for an ISA account. Was your transfer just a normal trading account?