Sipp and HRP finproms failing FSA standards

The FSA conducted thematic work on Sipps and home reversion plans (HRPs) and found that, if the products had already been regulated, it would have “significant issues” with their financial promotions. On Sipps specifically, the regulator assessed a sample of 34 press financial promotions issued over a 12-month period and 18 website financial promotions and found only 50% of the press and 22% of the website promotions met the standards which will apply from tomorrow. Common problems included: Lack of balance – promotions gave the perceived advantages of a Sipp without mentioning the d...