The Financial Conduct Authority has fined former SVS Securities chief executive Demetrios Hadjigeorgiou GBP 56,400 and barred him from holding senior management positions in financial services. It found that he failed to exercise due skill, care and diligence in managing the discretionary fund manager and protecting customers’ interests. Under his leadership, SVS invested customer funds, including pension savings, in high-risk products while receiving significant payments from the issuers. Hadjigeorgiou also failed to challenge a 10% reduction in the value of customers’ bond investments when they sold them. The reduction, which was not clearly disclosed and caused some customers to lose pension savings, generated GBP 359,800 for SVS. The FCA imposed the sanctions after Hadjigeorgiou settled the case and withdrew his referral to the Upper Tribunal.
2026-08-19Financial Conduct Authority
UK Financial Conduct Authority fines former SVS Securities CEO GBP 56,400 and bans him from senior management roles
The Financial Conduct Authority fined former SVS Securities CEO Demetrios Hadjigeorgiou GBP 56,400 and banned him from senior management roles in financial services. The FCA found that he failed to protect customers whose money was placed in high-risk products and did not challenge an inadequately disclosed 10% reduction in bond values that generated GBP 359,800 for SVS.