ITI Capital forced to close its retail business effecting thousands of former SVS Securities clients






Its an all to familiar story in the retail stockbroking sector, news of another firm being forced to close its doors to new business by the FCA, wreaking havoc and misery for its frustrated client base.


In 2019 SVS Securities was investigated by the FCA and subsequently forced to close its doors. The regulator blocked the broker when it uncovered questionable commission arrangements and found it had promoted high risk bonds, along with investing client pensions funds into highly illiquid assets.


Following a lengthy and painful process for SVS clients, ITI Capital was given the go ahead in 2020 to transfer the client base and all client assets to its trading platform with the blessing of the FCA and the administrator, Leonard Curtis . The process, however was far from smooth and it took many months for former clients of SVS being able to access their funds. This sparked an intervention from the FCA to push ITI Capital to solve their IT issues quicker.


ITI Capital have received a number of FCA imposed restrictions on their business since the acquisition of the SVS client base, including halting the firm from receiving any fees in relation to the referral of potential claims to SJS Legal.


The final restrictions came into force on 1st June, meaning 'ITI Captial must cease to act for any retail clients, whether new, existing or proposed clients'. This enforcement action will mean further disruption for those SVS clients that decided to stick with the struggling firm.


If you are a former SVS Securities client and would like to discuss your options in relation to making a claim against the firm, Hallbrook would be happy to help. For a no obligation discussion please contact on 0115 822 1850 or simply complete the contact form below and we'll be in touch with shortly.