Standard Life proposes self regulation of Sipps

Although the Treasury has launched an industry-wide consultation over the regulation of Sipps, Standard Life says it could be a year to 18 months before any formal regulation is in place, during which time consumers could be vulnerable to poor advice and exposure to unregulated investments. John Lawson, head of pensions policy at Standard Life, says: “Most advisers and providers are reputable and act responsibly towards their customers but there is danger that people with no qualifications to provide advice try to get a slice of the action". "By adopting self-regulation the industry wou...