SVS Securities - shut down?

ABSVW

jenwrendorset said:

One down, one to go!!  Hubby's account has now transferred over to iWeb, fingers crossed it stays there, unlike sweeter_ strudel's experience.  Just our son's account remains with ITI.  Our thanks to Mark Bentley whom I'm sure has been instrumental in 'putting a rocket' under ITI administration; hopefully some compensation from ITI will be forthcoming.  We will, most definitely, be making a donation to ShareSoc (many thanks for the above link).

Hi - what sort of compensation are you folks asking of ITI and how are you going about requesting this?
Abid

johnburman

FoS for compensation
one account = one claim [you and spouse = 2 claims]
they take for ever to deal - you will get a payment by spring next year (or summer)

ABSVW

johnburman said:

FoS for compensation
one account = one claim [you and spouse = 2 claims]
they take for ever to deal - you will get a payment by spring next year (or summer)

Thanks John - is there an group claim or is it an individual claim that you put in. I guess they will be aware, given the number of affected SVS clients!?

johnburman

Got to do it yourself.  Contact the FoS.  And yes they shoudl have heard of ITI, but they are only a small broker, so it may be that the particular caseworker may not have heard of ITI.  No matter - get your complaint(s) in!   

eskbanker

johnburman said:

FoS for compensation

It's not really as simple as that and is more like escalating to FOS if unhappy with ITI's proposed resolution of the complaint(s), and they may (or may not) choose to instruct ITI to increase their offer, i.e. FOS involvement is effectively a continuation of the complaint process, rather than a separate activity in its own right....

Sheris

eskbanker said:

johnburman said:

FoS for compensation

It's not really as simple as that and is more like escalating to FOS if unhappy with ITI's proposed resolution of the complaint(s), and they may (or may not) choose to instruct ITI to increase their offer, i.e. FOS involvement is effectively a continuation of the complaint process, rather than a separate activity in its own right....

ITI or L&C should pay a basic 5k in the real world.

Ravima

Waiting two months now for simple transfer of shares and cash. Just lodged formal complaint with ITI. Lets see what they say in response. 

Sheris

Ravima said:

Waiting two months now for simple transfer of shares and cash. Just lodged formal complaint with ITI. Lets see what they say in response. 

Today iWEB told me its now 6 emails to ITI with no reply, 3 complaints to ITI from myself with many more previous emails. no reply.
phone lines no answer at all today ? Have they been shut down ?  

steverobson1021

Anyone been approached by Claims Management solicitors for mis-selling of AIM shares through SVS?

Ravima

Not I, but a colleague was. I don't answer 'private; numbers