SIPP providers boost UCIS screening after FSA pressure

The move comes after the Financial Services Authority (FSA) inspected 70 firms via questionnaire, phone or site visit. In a straw poll taken at the annual general meeting (AGM) of the Association of Member Directed Pension Schemes (AMPS), 55% of members said they had increased screening in the past year. A further 9% said they had begun outsourcing the screening of investments made through their SIPPs in the last 12 months, whilst 36% said they had made no change. The results come after several complaints to the Financial Ombudsman Service (FOS) claiming unsophisticated SIPP invest...