SIPP providers need 'level playing field'

In its response to the Government’s consultation on protected rights, which closed last Friday, the SIPP provider highlights insurance-based specialist SIPP operators will generally have greater solvency requirement than trust-based SIPP operators under the proposals. John Moret, director of sales and marketing at Suffolk Life, says the Government should change the draft legislation so any SIPP operator prepared to accept protected rights funds should meet the same capital requirement in respect of its funds as life assurers. He says they should also pay comparable fees to the FSA. “His...