Specialist pension adviser Richard Jacobs believes he is the first person to have lined up an original artwork for his Sipp on A-Day.Jacobs, who is managing director of Richard Jacobs Pensions & Trustee Services, has bought an original pencil sketch by famous wildlife artist David Shepherd at a charity auction and intends to invest it in his Sipp. He is now stopping his regular pension contributions and will make an in specie contribution of the 2,800 artwork into his Sipp next April. Jacobs will then rent the artwork from his pension scheme at a rate of 10 per cent of its value per year. Jacobs says his work premises are already held in his company Sipp so he has exp- erience of dealing with property in pensions but he wan-ted to be able to display exp- erience of dealing with more exotic investments to his clients. One of his clients is lining up a 48,000 art purchase for her Sipp. Jacobs says the drawing was bought from Shepherd’s Wildlife Foundation and he is in talks with them about ways to unite Sipp art buyers with them for their future charity art auctions. He says: “I believe that I am the first person to buy art for his pension and it has really caught my clients’ imagination.” What the regulator told the Treasury Select Committee t The FSA has a project in place looking at where the line of liability lies between provider and adviser when assessing endowment misselling complaints. t The FSA will be looking to see if the stakeholder regime can be expanded to include a wider range of products. t It believes the Department for Education and Skills should pay for and be responsible for financial literacy, including it in the school curriculum. This is currently an FSA remit. t It sees huge difficulties in implementing a single European market in retail financial services due to the different tax regimes of member states. t It will be looking further into the issue of generic advice to see where charities, private companies and advisers could help further. t It is to keep the pressure on providers’ complaint handling arrangements by monitoring the number of complaints upheld by providers and those passed to the FOS. t It does not want to be responsible for regulating the consumer credit market due to the size and costs involved.