Overview of SVS Securities

SVS Securities plc (SVS) used to be a wealth management firm offering a range of services to its clients, including advisory stockbroking, online share dealing, foreign exchange trading, and discretionary fund management services. On 5 August 2019, SVS was placed in Special Administration by its directors, with Leonard Curtis Recovery Ltd appointed as Special Administrator.

What Happened to SVS Securities?

The directors of SVS decided to place the firm in Special Administration following action taken by the Financial Conduct Authority (FCA). The FCA imposed requirements on SVS, stopping it from conducting regulated activities and restricting it from disposing of assets due to serious concerns about the firm’s operations. Consequently, the directors obtained solvency advice and resolved to place the firm into Special Administration.

Are You Affected by the Collapse of SVS Securities?

If you were an investor with SVS Securities, you might be eligible for compensation. The collapse of SVS Securities has impacted numerous clients who trusted the firm to manage their investments prudently. Understanding your rights and the process for claiming compensation is crucial to recovering any potential losses.

How to Claim Compensation

Investors affected by the collapse of SVS Securities can seek compensation through the Financial Services Compensation Scheme (FSCS). The FSCS is designed to protect consumers when financial services firms fail. Here’s how you can start the compensation process:

  1. Check Eligibility: Determine if your investment qualifies for FSCS protection. Generally, the FSCS covers investments up to £85,000 per person per firm for firms that failed after 1 April 2019. Different limits apply for firms that failed between 1 January 2010 and 31 March 2019, and before 1 January 2010.
    • If the firm failed after 1 April 2019: Up to £85,000 per eligible person, per firm.
    • If it failed between 1 January 2010 – 31 March 2019: Up to £50,000 per eligible person, per firm.
    • If it failed before 1 January 2010: 100% of the first £30,000 and 90% of the next £20,000 up to £48,000 per eligible person, per firm.
  2. Submit a Claim: Visit the FSCS website and follow their guidance on submitting a compensation claim. You will need to provide details about your investments and any communications you had with SVS Securities.
  3. Provide Evidence: Gather all relevant documentation, including account statements, investment contracts, and any correspondence with SVS Securities. This information will support your claim and expedite the process.
  4. Await Assessment: The FSCS will assess your claim and determine the amount of compensation you are entitled to receive. This process can take some time, so it’s important to be patient and provide any additional information requested by the FSCS promptly.

What You Need to Know

Before investing, it’s essential to understand the protection available through the FSCS. Here are three steps to check if your investment is protected:

  1. Check Authorisation: Ensure your provider is authorised by the Financial Conduct Authority (FCA) or the Prudential Regulation Authority (PRA).
  2. Confirm Activity: Verify that the specific activity (such as providing advice) conducted by the authorised firm is regulated by the FCA or PRA for FSCS protection to apply.
  3. Ask for Confirmation: Request your firm to confirm that the activity they are performing is a regulated activity and FSCS protected.

Why Choose Us for Assistance?

Navigating the compensation process can be complex and time-consuming. Our team of experts at Claim My Loss is here to help you through every step. We have extensive experience dealing with investment compensation claims and can provide you with:

  • Personalized Support: Tailored advice based on your specific situation and investment details.
  • Expert Guidance: Assistance with completing and submitting your FSCS claim accurately.
  • Ongoing Updates: Regular updates on the progress of your claim and any new developments.

Contact Us

Call us now for a phone or video consultation with one of our legal experts on 0161 840 1560  to find out if you are entitled to compensation, you may even be entitled to additional compensation if you have successfully claimed in the past

News & Updates about SVS Securities