Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
tockbroker SVS Securities has collapsed into administration and will face a regulatory investigation amid “serious concerns” about its business.
Administrators at Leonard Curtis have been appointed to take control of the City-based broker and are exploring options including a sale, the Financial Conduct Authority (FCA) said in a statement.The regulator said it has also launched a probe into the broker over unspecified concerns about the way it had invested clients’ money.
“Acting on intelligence received about the assets in which SVS invested its clients’ money, we conducted urgent supervisory work and identified serious concerns about the way in which the business was operating,” it said.
SVS, which was founded in 2003, offers online execution-only and Forex trading in addition to traditional stockbroking. The firm has 95 employees listed on Linkedin.
The Financial Services Compensation Scheme (FCSC), which protects consumers when financial services firms fail, will review whether SVS clients are eligible for compensation for any losses.
SVS has previously been implicated in a VAT scam involving the trading of carbon credits, permits which allow a country or organisation to emit greenhouse gases.
An investigation published by City A.M. and the Bureau of Investigative Journalism revealed the broker sold more than 24m credits to Deutsche Bank over a 23-day period despite concerns about their legitimacy.
Read more: London Forex broker Argentex goes public in £120m float
SVS has denied being a knowing party in the fraud and denied its traders “deliberately closed their minds or failed to ask questions”.
On 5 August 2019, the Court appointed Julien Irving, Andrew Poxon and Alex Cadwallader, all of Leonard Curtis, as Special Administrators of SVS Securities Plc (SVS), following an application by the Directors. The Joint Special Administrators are currently considering the options for the business going forward, including a sales process of the whole or part of the business. They will be speaking with interested parties about this
So the big sells keep coming and I cannot believe it is someone dumping...it HAS to be a share issue but at what price? must be sub .70 for them to be selling as they will not shift them at a loss. My faith in KIBO that I enforced yesterday with more buys is just stating to wane.
And more big sells to give credibility to my theory (seen it happen before)...Placing any day now....Of course they have to start selling the day after my latest top up......always the way eh.....still if they do it properly my very substantial holding might, just might benefit.
A very good and positive RNS, however as with Kibo yet another RNS that is informative only and adds not a penny to the coffers. Get coal out of the ground get nickel/gold out of the ground and bring in cash, THAT adds value-...How long? hmmm been waiting a long time already. One day one day.
I am a large holder of Kibo shares so not de-ramping. The RNS yesterday was very good news but adds not a single penny to thye company coffers. When the RNS's start announcing sales of electricity , coal etc. Then no value is being added. It will get there but a long long way to go for a cash return.
I am in for a load more when the dust settles. Lets see where the best price settles at