FSA restarts SIPP disclosure consultation after industry pressure

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The Financial Services Authority (FSA) will conduct another consultation into SIPP charge disclosure after an industry backlash.

In February, the FSA published a consultation on SIPP disclosure, CP 11/03. In it, the regulator proposed placing a requirement on SIPP providers to create key feature illustrations (KFIs) and disclose whether or not they receive interest on cash accounts within their products. SIPPs are currently exempt from these requirements, and many providers claim it would be impossible to create a standardised format for SIPP disclosure due to the complicated nature of some vehicles. In light of the industry responses to its consultation, the FSA today published a response in which it promis...

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