SVS Securities - shut down?

sweeter_strudel

@My2p
HL's explanations bend the space/time continum in such a fashion they are in a parallel universe of non-reality. They are trying to blame ITI for everything..... Which is a good get out for them, if it wasn't for the email chain of the entire saga.

I started a formal complaint with HL on the first occasion, followed by a second formal complaint the second time. Add in all my ITI complaints and I'm going to be very busy keeping track of them all during the next year or two.....or three.

Ravima

Well, after some enquiring, it seems that complaints can be registered with LC and their regulatory body. Get writing over Christmas!

Thank you for your reply.  I can confirm that Leonard Curtis does have a Complaints Policy. It can be found via on our website under the title “Quality of Service” via the following link:

http://www.leonardcurtis.co.uk/legals/

 

Please be advised that if you are not satisfied by the response provided to your complaint, a complaint can be made to the Insolvency Service via the Insolvency Practitioner Complaints Gateway (“the Complaints Gateway”). The Insolvency Service is a government department. The web address for the Complaints Gateway is https://www.gov.uk/complain-about-insolvency-practitioner. The JSAs’ regulatory body is The Institute of Chartered Accountants in England and Wales (“ICAEW”).

 

Yours sincerely

for and on behalf of

SVS SECURITIES PLC

 

eskbanker

Anyone considering complaining about LC to the Insolvency Service should bear in mind https://www.gov.uk/government/publications/insolvency-practitioners-guidance-for-those-who-want-to-complain/insolvency-practitioners-guidance-on-how-to-complain-about-an-insolvency-practitioner#will-i-receive-any-compensation-if-my-complaint-is-upheld

21. Will I receive any compensation if my complaint is upheld?

No. The authorising body cannot award or compel an insolvency practitioner to pay you compensation for any financial loss you consider you may have suffered.

If you believe that you have suffered a financial loss as a result of negligence by an insolvency practitioner, you should pursue your own legal remedies.

as pointed out back in September by Jamesram

Sheris

Ravima said:

Well, after some enquiring, it seems that complaints can be registered with LC and their regulatory body. Get writing over Christmas!

Thank you for your reply.  I can confirm that Leonard Curtis does have a Complaints Policy. It can be found via on our website under the title “Quality of Service” via the following link:

http://www.leonardcurtis.co.uk/legals/

 

Please be advised that if you are not satisfied by the response provided to your complaint, a complaint can be made to the Insolvency Service via the Insolvency Practitioner Complaints Gateway (“the Complaints Gateway”). The Insolvency Service is a government department. The web address for the Complaints Gateway is https://www.gov.uk/complain-about-insolvency-practitioner. The JSAs’ regulatory body is The Institute of Chartered Accountants in England and Wales (“ICAEW”).

 

Yours sincerely

for and on behalf of

SVS SECURITIES PLC

 

Complaints Policey to Leonard Curtis when i last looked many months ago was one of there top Directors, that one of the JAS disaster, so that would be another stich up on clients of ex SVS. 

Ravima

Still, complaints take time. If enough complain to both LC and the regulatory body, maybe we will prevent our misfortune falling on others in the future. 

Thrugelmir

Ravima said:

Still, complaints take time. If enough complain to both LC and the regulatory body, maybe we will prevent our misfortune falling on others in the future. 

Unlikely, people will still up dealing with or investing in dodgy companies.  As a result insolvency practioners will continue to thrive. There'll always be suckers for the sharks to feed on. 

My2penneth

Looks like one can launch Phoenix from the Holding Account login page!  
(I've not tried it)

My2penneth

sweeter_strudel said:

@ My2p and Others

Could I ironically have stumbled into a safer life raft? 

I was hoping to get the remnants of an ISA over to iWeb. ITI managed to send it to HL, not once but twice. On the second occasion I persuaded HL to keep the ISA and await a request from iWeb to transfer it. Hopefully HL know how to do this with a the correct reference numbers.

Has anyone managed to satisfactorily deal with "untransferrable" shares trapped with ITI. Mine are technically worthless (de-listed) so I ain't sweating too much, but just wondering if anyone has managed to get a paper certificate for any holdings out of ITI?

iWeb told me that ITI Capital are sending shares to the wrong Crest ID for iWeb (the Crest ID is a unique identification for each company). I wonder if this explains why shares have been sent to HL (if ITI "put the wrong address" on the post, don't be surprised if it lands elsewhere!) 

RasputinB

On ITI Capital’s web site it says “Risk Warning: All trading involves risk. Clients may lose significantly more than they invest and therefore your capital is at risk”.

But this isn’t the true picture. If you can lose more than invested, then you can lose more than your capital. The easiest way to do this is by trading on margin.

The web site doesn’t properly flag up this risk. ITI Capital’s Terms of Business has a small paragraph in it headed “Risks” and refers to another document called a “Risk Warning Notice” a copy of which they say is available on their website. I can’t find any website links to this document but I found it through Google. Here is a screen shot of the main warning regarding trading on margin -

sweeter_strudel

@RasputinB
When ITI say you can lose more than your capital what they are actually flagging up is the danger of losing the will to live when having to deal with them.

Ho ho ho, as it is said at this time of year......