FSA consultation on Sipps launched

This latest consultation paper - CP06/5 - gives particular emphasis to self-invested personal pensions (Sipps), and follows changes set out by the Treasury as part of a similar consultation which brought Sipps within the FSA's remit. Under the new regime, all those who operate a Sipp scheme will need to apply for additional permission or authorisation if not already authorised. The FSA says it will be encouraging all firms to adopt regulatory standards prior to actual regulation to ensure consumer protection and says it will be monitoring the way Sipps are promoted. It will also be wor...