SIPP regulation 'a work in progress' admits FSA

When asked by Association of Member Directed Pension Schemes (AMPS) conference delegates whether increased regulatory scrutiny had been a success, Milton Cartwright admitted it was not the finished article. He said the FSA is working towards a further consultation on capital adequacy later this year. He signalled a likely move to a model where firms would be assessed on the number of esoteric investments held. He also added there was a "strong correlation" between the number of esoteric assets held and the ability of a firm to wind down in a timely fashion. Currently, providers aut...