SIPP disclosure regulation costs 'wildly underestimated' - AMPS

The Association of Member-Directed Pension Scheme (AMPS), which represents SIPP providers, said the FSA should properly investigate whether customers would be happy to pay more to get more detailed illustrations before moving ahead with the plans. Its response to the FSA consultation paper CP12/5 said there was currently no desire to hide costs from SIPP customers and warned too much focus on cost could result in consumers discounting other important factors. The response also told the FSA providers felt that consumers do not value complex illustrations and implementation costs were "...