The Financial Conduct Authority (FCA) has further delayed the publication of its proposals for new capital adequacy requirements for self-invested personal pension (SIPP) providers, saying it wanted to factor in the findings of its current thematic review and consultation.
The regulator will now aim to publish its proposals for the minimum cash reserves SIPP providers will be required to hold within the first half of next year, it said.
The proposals were originally meant to be published as a policy paper in April this year, following a consultation last November which proposed a hike in minimum capital adequacy requirements from from £5,000 to £20,000.
The publication of the proposals were then pushed back to September this year and then further to the end of 2013.
An FCA spokesperson said: "We are aiming to publish our final position on SIPP capital adequacy in the first half of next year.
"We have had a lot of responses to the consultation so it's only right that we evaluate those carefully; the additional time will also allow us to take into account the findings of the thematic review that was launched in October."
The FCA launched a third thematic review into SIPPs earlier this year after it found the market still posed a risk to consumers.
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