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FCA confirms Tom Winnifrith scoop. SVS is in special administration and something smells badly wrong

By Nigel Somerville | Monday 5 August 2019


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


The FCA has just issued a statement to confirm our story of last Friday that SVS is in special administration. It is full of details on the compensation scheme but the line which stands out is that it acted on a tip-off over where SVS was investing clients’ money. Ouzo time for Tom, then, but sackcloth and ashes for SVS clients...

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