SVS Securities bankrupt

Discussion in 'Shares & Funds' started by James Bond, 17th Sep, 2019.

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  1. James Bond

    James Bond Well-Known Member

    Joined:
    23rd Jun, 2015
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    218
    Location:
    Melbourne
    I'm pretty late to the party on this one as this happened on 4th August, but SVS securities, a UK stockbroker used extensively by British expats was closed down by Financial authorities. I only found out when I logged in to confirm some dividends had been received.

    By sheer good fortune I had transferred out all the cash in the account on 17th July, however I still have both shareholdings and any dividends earned since 17th July still there.

    Apparently investors are covered for losses up to £85,000, however there will be a lengthy process to recover money and shares.

    I post this here merely to inform any other expats on this site who were using SVS to invest in the FTSE.