This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.
X
MM-Cover-Top-240714.jpg
Categories:Pensions,SIPPs

Small Sipp providers face FSA visits

  • Print
  • Comments (1)

The FSA is visiting a number of small Sipp firms to investigate the risks posed by unregulated collective investment schemes.

Over 2008 and 2009, the FSA undertook a thematic review of around 70 small Sipp providers to identify whether they were meeting its regulatory requirements.

Earlier this year, the FSA asked small Sipp providers to complete a questionnaire about their legal structures and capital adequacy provisions.

An FSA spokesman says the regulator’s latest investigation follows on from this work.

He says: “Following thematic work undertaken in 2008 and published in 2009, we have continued to engage with Sipp firms to help us learn how the market has changed over the last few years.

“The upcoming firm visits, like the questionnaire we sent out earlier this year, are part of our ongoing supervisory work in the SIPP market.”

  • Print
  • Comments (1)

Daily Email Updates
If you enjoyed this article, sign up to receive the latest news and analysis from Money Marketing.

The Money Marketing CPD Centre
Build your annual CPD - you can log and plan your CPD hours for free with The Money Marketing CPD Centre.

Taxbriefs Advantage
Advantage is a digital reference source giving unbiased, independent, answers to your technical queries. Subscribe to Taxbriefs Advantage.

Readers' comments (1)

  • Good!!

    But why do the FOS not consider it inappropriate for non-sophisticated investors to be sold UCIS products when the FSA do? Most strange

    Unsuitable or offensive? Report this comment

Have your sayEdit my profile/screen name

You must sign in to make a comment

The Cost of Advice

Sponsored by Brooks Macdonald

Fund Data

Editor's Pick



Poll

Do you think advisers will benefit from Chancellor George Osborne's guidance guarantee?

Job of the week

Latest jobs

View all jobs

Most recent comments

View more comments