The Financial Services Authority's (FSA) inspection of eight SIPP providers shows it is concerned over levels of risk among small providers, a Defaqto expert says.
The FSA confirmed yesterday it is continuing its review of the SIPP market with inspections of eight providers, in order to "learn how the market has changed over the last few years". The inspections did not come as a surprise to industry figures. John Moret, director of MoreToSIPPs, said: "I expected the FSA would be following up on their questionnaire, issued earlier this year, at some point." Andy Leggett, insight analyst at Defaqto, said the FSA's activity in the SIPP market is welcome because the regulator "will be able to go further and see more than IFAs" when it comes to due d...
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