SVS Securities - shut down?

Danie5

Thanx mf11. Perhaps another route would be to split the portfolio among 2 or 3 brokers and transfer all cash from their nominee accounts to your own bank account. With hindsight and bad luck your brokers could have been Beaufort Securities, SVS and Reyker Securities.

manted

I'm hoping they can finalize the broker at the very latest by Christmas,
Judging by the pace of work gone so far (and their still saying few weeks) I am not very optimistic.
We were supposed to have a broker finalized by end of October, we are now approaching end of November ! There's so many trades that many of us want to do but are held back by this fiasco .. It does seem that its purely of the FCA's making .. if only they had allowed an orderly exit for the XO clients ?!

fmmajid

A total disgrace and the FCA have shafted private shareholders.

My2penneth

Let's hope Corbyn doesn't get in...otherwise our shares are frozen and declining in value...all we can do is watch.

masonic

My2penneth wrote: »

Let's hope Corbyn doesn't get in...otherwise our shares are frozen and declining in value...all we can do is watch.

Whereas if Boris gets a majority, Brexit might happen soon thereafter. Basically you're screwed either way.

johnburman

But why have we not been hept up to date by LC. Why is their website silent?

masonic

johnburman wrote: »

But why have we not been hept up to date by LC. Why is their website silent?

It does seem an update on the promised client portal is overdue.

Danie5

If brexit happens end of Jan next year it will remove the uncertainty an I expect a rally to catch up with stock exchanges elsewhere in the world.

johnburman

Danie5 you forget that January is not a particularily good month for the markets; December is. But the point is if you can not either buy or sell on SVS, you are going to be a rather stressed spectator! Unless they get the portal up and running by- in my estimation - the end of this month, to give 28 days for the bar to kick in, there is no way that LC will be able to do the transfer of the shareholdings of XO sharholders this tax year i.e. before 5 April 2020. Anyone think I am wrong?

Chaffers69

I've been chasing Leonard Curtis up and have been advised that letters have been sent out with login details and that the portal is "being launched later today" .. we wait with baited breath.