FCA fines and bans former SVS Securities CEO

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The Financial Conduct Authority fined former SVS Securities chief executive Demetrios Hadjigeorgiou £56,400 and barred him from senior management roles in financial services for failures in managing the firm and safeguarding customers’ interests. Under his leadership, SVS put customer funds, including pension savings, into high-risk products while collecting substantial payments from issuers, and he failed to question a 10% reduction applied when customers sold bond investments, which generated £359,800 for SVS and was not clearly disclosed to customers.