Hallett questions FSA SIPP review findings

A warning letter sent to small operators by the FSA earlier this month said it was concerned with the "misunderstanding among some SIPP operators they bear little or no responsibility" for the suitability of the business they administer. "We cannot take responsibility for the quality of the advice advisers are giving to their clients, but the report is suggesting SIPP operators need to monitor the quality and appropriateness of advice despite the fact most administrators will not have the requisite skill sets to do so," Hallett says.   "Each part of the chain needs to ensure the c...