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Suffolk Life refuses “exotica” investment into Sipps

Suffolk Life one of the UKs leading providers and administrators of specialist pension products, particularly SIPPs, has confirmed that it will refuse all exotica investments within its SIPP until there is a suitable regulatory framework in place.

Suffolk Life welcomes the Treasurys proposals to create a new FSA regulated activity in relation to personal pension schemes, including SIPPs. However the company has serious concerns over the proposed delays in implementation until April 2007. Effectively, this presents a one year window for unregulated activity and potential financial scams to occur.

Speaking at the Westminster and City conference on SIPPs countdown to A-day John Moret, Suffolk Lifes director of sales and marketing director said: This one year window of unregulated activity is a disaster waiting to happen. Contrary to the FSAs belief the majority of SIPP providers are not currently regulated. As a result there is a high risk of poor advice and misleading advertising during this 12 month period with little or no protection for investors. It is regrettable that this situation has occurred as the problem was foreseen many months ago but action was not taken until it is apparently too late to implement a new regulatory regime from A-day.


BBB suspends trading of its shares

Berkeley Berry Birch has suspended trading in its shares pending clarification of its financial position as well as appointing a new chairman.The firm says it has referred the FSA notices from July, cancelling the permissions of its three regulated businesses due to regulatory capital shortfalls, to the Financial Services and Markets Tribunal and says until […]

Out of step

A surviving spouse considers a claim to the court for financial provision

Standard Life launches flexible group Sipp

Standard Life has launched a group Sipp designed to allow employees greater investment choice and control over their pension assets.The Standard Life group Sipp will allow employers to give all of their employees access to the benefits of an individual Sipp. The new product allows employees to only pay for what they use and choose […]

Multi-manager View: Liquid asset

At a recent investment conference, one of the guest speakers made the controversial statement that the study of economics was dead and that investors should stop wasting their time with the subject.

Survey cover

EEF/Jelf Employee Benefits Sickness Absence Survey 2015

EEF stated in its 2015 EEF Manifesto that the UK’s growth prospects depend on people being fit, working and productive. Keeping people in work and helping people return to work is very important for the manufacturing sector. It means boosting productivity by getting people back into work as early as is possible, as well as fostering workplace cultures and environments that proactively manage individuals’ health conditions so that all can benefit from lower sickness absence outcomes.


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