FCA: Collapsed DFM targeted DB business for high risk bond investments
Entered administration 5 August
Collapsed DFM SVS Securities targeted DB business for investments in its "illiquid and high risk" model portfolios.
Collapsed wealth and discretionary management firm SVS Securities encouraged advisers to promote risky model portfolios for clients moving from DB pensions, the FCA has claimed.
SVS was placed in special administration by its directors on 5 August after the Financial Conduct Authority (FCA) "identified serious concerns about the way the business was operating". The regulator...
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