FCA fines and bans former SVS Securities CEO over governance and conflict-of-interest failures, weak due diligence and commission-driven practices that exposed pension customers to significant risks

The FCA fined Demetrios Hadjigeorgiou £56,400 and prohibited him from holding senior management positions after finding that he failed to exercise adequate care and diligence while running SVS Securities. The firm invested client funds, including pension savings, in high-risk products while receiving significant issuer payments, and customers selling certain bonds suffered a 10% reduction in value that generated £359,800 for SVS without being…