SVS Securities: FCA bans former CEO over pension failings
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What did the FCA find about SVS Securities?
Your pension is meant to support you later in life. You need to know where it goes and who earns money from the choices made for you.
On 19 August 2026, the UK's FCA fined Demetrios Hadjigeorgiou £56,400. It also banned the former SVS Securities chief from senior management roles in financial services.
The FCA found that he failed to manage the firm properly and protect clients' interests. SVS put client funds, including pension savings, into high-risk products. It received large payments from the firms issuing those products.
What happened when clients sold their bonds?
The FCA also found that he did not challenge a 10% cut in the value of clients' bond investments when they sold. This brought SVS £359,800. Clients were not clearly told about the cut.
Some lost part of their pension savings. The case was settled with the FCA, and Hadjigeorgiou withdrew his tribunal referral.
SVS entered special administration in August 2019 and was dissolved in August 2023. This news concerns a later enforcement decision, not a new closure.
Does the fine mean you will receive compensation?
The fine is not a notice that each client will be paid. A claim depends on the service, the loss and the route that applies to it.
This is a UK case. Do not apply UK pension or compensation rules to an account in another country.
What should former clients check?
- Find your SVS statements, pension papers and advice records.
- List the products you held, what you paid and any amounts received back.
- Check the fees and sale values shown on your records. Mark anything you cannot explain.
- Use verified contacts for your pension provider or existing claim handler. Ask about your case status and any deadline.
- Keep a written record of the answers. Do not rely on an unexpected call offering to reopen a claim for a fee.
If you suspect a new scam payment, contact your bank promptly. Our reporting guide explains where to start in different countries.
What can other savers learn from this?
Ask who pays the person recommending an investment. Ask what you pay if you leave. A clear answer should name the fee and explain how it affects your money.
Would you like to talk through your next step?
Request a free call. Tell us your country, the firm involved and what you do not understand. We can help you organise the questions to ask. We cannot promise compensation.
Sources
Where to go in your country
Scams cross borders. The people who can do something about them do not. Choose your country below, or change it if our guess is wrong.
Choose your country to see local contacts. If it is not listed, you can ask our team for help.
🇬🇧 The United Kingdom
🔎 Check the firm
FCA Firm Checker — Search the firm name, its website, or the reference number it gave you.
🚨 Report it
Report Fraud (City of London Police) — Report online or call 0300 123 2040. In Scotland, call Police Scotland on 101.
↩ Ask for your money back
Financial Ombudsman Service — Complain to the firm first, then bring it here. Free, and it can order the firm to pay.
Every address above was opened and checked by us on 30 September 2026. Tell us if one has moved.
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