SVS Securities Administration Process to Be Concluded in Early 2022

The Joint Special Administrators of the failed broker SVS Securities PLC issued a notice to clients of the company, stating that the administration process will be concluded in early 2022.

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According to Leonard Curtis, the SVS Securities’ administrator, once the administration has been concluded, it will no longer be able to process and respond to client information requests or Data Subject Access Requests (DSAR).

“Clients are therefore encouraged to contact the administrators as soon as possible should you wish to make a request to obtain any of your client account information from SVS,”Leonard Curtis said. ”Should you require any information in relation to your former SVS client account, please email us at svs@leonardcurtis.co.uk with your request together with a valid form of ID so that we may verify your identity.”

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The vast majority of the DSARs received relate to potential mis-selling claims, which are being handled by the Financial Services Compensation Scheme (“FSCS”). The administrators continue to liaise with the FSCS directly and have provided the FSCS with sufficient client data to enable the FSCS to process such claims.

Last month, Leonard Curtis has issued a progress report, stating that most of the clients' custody assets and client money have been returned in accordance with the regulations by way of transfer to ITI on the transfer date.