SVS Securities - shut down?

rnf11

My2penneth said:

I received a letter from iWeb this morning to say that they have received a valuation from ITI Capital. There are no stocks in the valuation and a small amount of cash which they suggest could be withdrawn to a bank account. They therefore cancel the transfer request.

Just another example of ITI's incompetence and proof that they don't really know what is in the accounts at the time of writing to iWeb..

Priceless!!! It's just like a game of "Snakes and Ladders".......

However, I too got letters from IWeb this morning, dated 10th September (IWeb does have a glitch on its website preventing the uploading of a phone number to permit text comms). Looks like the ISA is more advanced in the transfer process than the ordinary, even though the latter was the first request to go in.

Jamesram

My2penneth Not often lost for words but temporarily almost speechless- I am really sorry to hear about that- particularly the iWeb cancellation of transfer- logical from their point of view, but what now?

jenwrendorset

Just received email requesting that we complete a W-8BEN form and self certification forms for a joint account which only contains some stray L&G (LSE) shares - what's all that about!!!! Our personal details for that account has my husband's gender as female, correct DOB but my place of birth......their application form is 4 pages long and I have neither the time or inclination to complete it, they already have had all that information..........thank goodness Sainsburys has another window sale on!

johnburman

My2penneth you now have evidence of ITI 'losing' your shares.

Make a specific complaint to the FCA
Likewise the LSE 
A claim on the FSCS
and finally on LC on the grounds that either they or ITI have 'misappropriated' the shares. 

johnburman

It's the *evidence* point I wanted to make My2p
A man of your sagacity will know how to complain I know. 

My2penneth

Just a copy for reference

shiznit76

i am lost for words M2P. I haven't had any letter from Iweb, now fear same arriving on my door step next week

Jools2001

Only in the UK, could this sort of !!!!!!, be allowed to happen!
FCA, should sort it out immediately, as we are all losing thousands of pounds,
by not being able to access our shares, to sell, buy,resell, to make a profit!

Im sorry but LC are to blame for all this, they chose a broker who could couldnt organise
a p up in a brewery, and obviously arnt upto the job, despite  MONTHS OF complaining LC, STILL HAVE NOT SORTED IT OUT!


Absolute joke!  all at our expense, whilst they just take thousands in fees, for what!!!!!

n_aftab

My2penneth said:

Just a copy for reference

who is it left up to sort this mess out? you and iti or will people have to go back to LC to get some ideas of what was listed in your account, unfortunately you wont be the only one who this happens to, and its a total disgrace people have been left in this position when an administrator has been paid millions to sort this out.

My2penneth

I wouldn't mind but
(1) ITI Capital should bloomin' well know what is in my accounts
(2) I'd actually emailed and agreed accounts with Argawal ..line by line, share by share, quantity by quantity.
I suspected that they had lost details on what should be in my account - why would they feel the need to ask me? 
 
Who sorts it out.?...muggins here on the end of a phone to a call centre in South Africa because he can't get through to an office in London. 

Of course, my valuation reports are one of many that ITI will claim they have processed and sent to the new brokers....I wonder how many others are getting reports of "nothing in the account"? 

This situation is wearing rather thin! 

(still, all these conversations are good reminders for my complaint to the FOS).