SVS Securities - shut down?

masonic

Ravima wrote: »

Interesting to learn that UK some people have not been contacted by LC either.

Ravima, if you are referring to the post above yours, then I think they are non-UK resident also.

Thrugelmir

samuzza wrote: »

We had had no communications from SVS or Leonard Curtis, so didn't know until my partner tried to log on today.

What address is held for you, a UK one?

samuzza

We're both in Thailand. SVS have Thai addresses for us, but we use UK bank accounts to transfer money to them.

ascension92

Does anyone have any information regarding open orders, Not seen anything since LC's FAQ's 15 Aug?

manorhouse

I would think all orders would of been cancelled on the day it shut down .

manorhouse

Has anyone opened acc with a new broker and would they like to share experiences so far.

ascension92

I placed an order/trade on the afternoon 1 aug, my share holding in my XO account increased by the required trade amount. I seem to think I have read that SVS were able to clear their own trades, whether they could do this in the timescale before being closed down, I would not have thought so. Reading LC's FAQ's 15 Aug, I and people like me are "in default" and should be hearing from LSE. Just wondered if anyone in same situation had heard anything. Then when this is all cleared up I will know if I am chasing shares or cash

johnburman

When this is all cleared up... Its been almost 6 weeks since LC were appointed and I hope things have been going on behind the scenes as apart from terrible comms with clients their secrecy matches North Korea.

I have posted before there are only 13.5k clients... It is a small company and yet LC have shown scant ability to move things foreward. Wonder why they were appointed by the FCA...other they were cheap?

johnburman

Also wonder what quality control the FCA is imposing on them... If any,,!

manorhouse

Thanks for reply to make things clear that was a buy order on a T2.
Which must of been on the advisory acc.?
Execution only ac had to be pre-funded.
If you had money on acc , it looks to me like trade executed if the shares were added to your portfolio