FSA should not treat SIPP providers as insurers - Hazell Carr

The provider’s comments follow market concern SIPP providers will face an uneven playing field when offering protected rights unless the regulator places the same capital requirements on them as insurers and demands the same FSA fees. Hazell Carr says such requirements would prove inappropriate because the SIPP company would not provide the underlying investment. The Government’s consultation on protected rights, which closed last Friday, outlines plans for greater solvency requirements for insurance-based specialist SIPP operators than trust-based SIPP operators. Stuart Russell, tec...