SVS Securities

Update for customers of SVS Securities

The Financial Services Compensation Scheme (FSCS) is aware that the wealth management firm SVS Securities PLC was placed in special administration by its Directors on 5 August 2019.

The Companies Court has appointed Julien Irving, Andrew Poxon and Alex Cadwallader of Leonard Curtis Recovery Limited as Special Administrators for the firm.

FSCS is working closely with the Special Administrators to determine SVS’s position in respect of client money and assets.

The Special Administrators will carry out an assessment of the client money and assets held by the firm to confirm the current position. Following the assessment, the Special Administrators will work to return as much client money and assets to customers as possible as quickly as possible.

Should the Special Administrators find that SVS does not hold enough client money or assets, then FSCS will cover asset and client money shortfalls – including the costs associated with their distribution back to clients – for eligible customers up to our compensation limit of £85,000.

At this stage there is no need for customers to make a claim with FSCS. We will provide further updates on our website as more information becomes available.

Meanwhile, customers may contact the joint special administrators by telephone on 01282 610635 or email svs@leonardcurtis.co.uk.

Further information is also available on the website www.leonardcurtis.co.uk/SVS.

ENDS

Media enquiries

James Tweed T: 020 7375 8646

Anthony Ozimic T: 020 7375 8638

E: publicrelations@fscs.org.uk

Notes for editors

Read more about the remit of FSCS on our Notes for editors page.

For more information on protection, see our Compensation limits page.