SVS Securities - shut down?

eskbanker

GeorgieC said:

RobHun said:

Last week I received a letter giving their "final response" that my complaint had been upheld and I was offered an ex gratia payment of £50 with the usual condition that "these matters remain confidential".etc.

With regards to your complaint, I would go back to ITI and say their offer is derisory etc etc for the following reasons blah blah with a threat to go to FOS. This gives them a chance to reconsider and improve. You have nothing to lose other than the time it takes them to respond.

The 'final response' expression is significant in the context of the FCA's rules about complaint handling, so it's not just ITI saying that they don't want to negotiate higher amounts, it officially signifies the end of the ITI process, so they should already have included information on how to escalate to FOS if the complainant desires to take it further.

manted

Any fellow sufferers still waiting for dividends to be credited before the cash is transferred out ?
I have a dividend which was expected in November, but has not been credited to the account. I believe that's stopping my cash transfer to my new ISA account.
Also, for those who have not checked, its worth checking the dividends which were declared while you were still stuck with ITI. Many people on this forum dont realise the cash amounts they can see on Qort are the dividends they were entitled to.
Not our fault, ITI makes it so difficult to understand which amount belongs to which holding.

Nbs222

let alone cash still waiting for our stocks  to transfer.

Happy New Year to all on the forum.

TheMoss

I have eventually got my shares and cash transferred to my new broker but I have not received a statement so I don't know if the amount is correct and I've never been able to access my account. There are share that have not been transferred valued at over £20k. I have rang four times. The helpdesk can not help. They promise someone will ring back.No one ever does.They offered me £75 compensation. I've got £5I in mind. They have made my life a misery.

pbcinlondon

Happy - ish New Year

Knowing that much time is taken up dealing with ITI and the hassles involved it might be worth taking a few more minutes to complete a form. The FCA is consulting on how IPs / JSA's operate.

If you're concerned at all about how and why Leonard Curtis got involved with this continuing fiasco, three minutes of your time might not be wasted (it's cathartic too): https://www.fca.org.uk/publications/guidance-consultations/gc20-5-guidance-insolvency-practitioners-approach-regulated-firms

gonzo7

Hello fellow sufferers, I’ve tried to remain patient throughout this SVS/LC/ITI fiasco but feel a need to become more pro-active.  Before I do so I request advice/comments.

I submitted transfer requests for my SC accounts in late August and for the PX accounts in early September.  In the absence of any action by ITI I submitted a complaint to ITI on 11 November.  I have received an acknowledgement and nothing more.  The ITI complaints procedure requires that they give a final response within 8 weeks.  Tomorrow (6 January) is the last day of the 8 week period. 

I’m proposing to raise a complaint with the FOS on 7 January regarding nil progress made with transfer and non-compliance by ITI with their own complaints procedure.  I intend to inform ITI of my intended action.  Does this sound like a reasonable approach?

Thank you in advance.

RobHun

gonzo7 said:

Hello fellow sufferers, I’ve tried to remain patient throughout this SVS/LC/ITI fiasco but feel a need to become more pro-active.  Before I do so I request advice/comments.

I submitted transfer requests for my SC accounts in late August and for the PX accounts in early September.  In the absence of any action by ITI I submitted a complaint to ITI on 11 November.  I have received an acknowledgement and nothing more.  The ITI complaints procedure requires that they give a final response within 8 weeks.  Tomorrow (6 January) is the last day of the 8 week period. 

I’m proposing to raise a complaint with the FOS on 7 January regarding nil progress made with transfer and non-compliance by ITI with their own complaints procedure.  I intend to inform ITI of my intended action.  Does this sound like a reasonable approach?

Thank you in advance.

Seems to me that you have done everything right and it is ITIC who have not followed their own complaints procedures. There are others on this forum more qualified than me to offer advice but I would inform them. That way you are keeping them up to date about your intentions and you never know it might push them into responding and you are still within your rights to escalate your complaint to the FOS.

MK62

gonzo7 said:

Hello fellow sufferers, I’ve tried to remain patient throughout this SVS/LC/ITI fiasco but feel a need to become more pro-active.  Before I do so I request advice/comments.

I submitted transfer requests for my SC accounts in late August and for the PX accounts in early September.  In the absence of any action by ITI I submitted a complaint to ITI on 11 November.  I have received an acknowledgement and nothing more.  The ITI complaints procedure requires that they give a final response within 8 weeks.  Tomorrow (6 January) is the last day of the 8 week period. 

I’m proposing to raise a complaint with the FOS on 7 January regarding nil progress made with transfer and non-compliance by ITI with their own complaints procedure.  I intend to inform ITI of my intended action.  Does this sound like a reasonable approach?

Thank you in advance.

Sounds fine to me.......the only thing I'd add really, is that you'll need to be patient......the FOS appears to move at a similar glacial pace to ITI.

Thrugelmir

MK62 said:

gonzo7 said:

Hello fellow sufferers, I’ve tried to remain patient throughout this SVS/LC/ITI fiasco but feel a need to become more pro-active.  Before I do so I request advice/comments.

I submitted transfer requests for my SC accounts in late August and for the PX accounts in early September.  In the absence of any action by ITI I submitted a complaint to ITI on 11 November.  I have received an acknowledgement and nothing more.  The ITI complaints procedure requires that they give a final response within 8 weeks.  Tomorrow (6 January) is the last day of the 8 week period. 

I’m proposing to raise a complaint with the FOS on 7 January regarding nil progress made with transfer and non-compliance by ITI with their own complaints procedure.  I intend to inform ITI of my intended action.  Does this sound like a reasonable approach?

Thank you in advance.

Sounds fine to me.......the only thing I'd add really, is that you'll need to be patient......the FOS appears to move at a similar glacial pace to ITI.

Anybody would think that the global pandemic has past.  Me first. The new mantra. 

My2penneth

Just before Christmas Santa dropped off a load of shares into my wife's ISA. Clearly she has been a naughty girl ( ;-)) as he has now taken them back. Just what are Crapital doing?