Sipps rules may increase mis-selling claims - papers 26th Sept

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TOP INSURANCE companies are calling for urgent talks with the FSA over the possible risks to customers of the government's drive to allow more choice for pension investment from next year, says the Scotsman .

Firms say they are concerned the new rules mean many of those selling assets for self-invested personal pension schemes (Sipps) are virtually unregulated and their tactics could bring a fresh wave of mis-selling claims, the paper says. Industry giants Standard Life and Norwich Union are among those seeking new regulations to cover advertisements from estate agents and others which will be able to promote the sale of assets ranging from second homes to vintage cars as pension investments from next April. EQUITABLE LIFE chairman Vanni Treves last night appealed to policyholders to let hi...

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