SIPP permitted investment list 'hard to implement'

Senior technical consultant Lisa Webster said the firm regularly sees flyers for unregulated collective investment schemes (UCIS) which claim to be ‘SIPP approved' when in fact there is "no such thing". She said: "An industry-wide list of permitted and non-permitted investments would certainly make things a lot clearer for the SIPP market. There are many issues that advisers and providers need to look out for, not just whether an investment falls under taxable property but in terms of due diligence and potential fraud." Webster said the current lack of list leaves a lot of room for unc...