Moret expects FSA crackdown on SIPP in-specie transfers

The SIPP provider’s director of sales and marketing says the regulator has its eye on re-registration in the wrap platform arena and argues its similarity to in-specie transfers will also catch the FSA’s attention. Moret says in-specie transfers, in his experience, can prove “horrific”, with some transfers taking more than 300 days to complete. He says this can often be because providers rely on information on client investments passed to them by third parties. “The in-specie stuff is similar to re-registration,” he says. “We probably deal with 10-15 in-specie transfers a week and, in ou...