Parts of the self-invested personal pension (SIPP) industry would have been left "dented and bruised" by yesterday's Financial Services Authority damning thematic review, Suffolk Life has said.
The provider said the report's findings were "no surprise" and could fuel consolidation among smaller providers who fell short of requirements. He also said the review signalled the watchdog was ready to take action on underperforming providers. Marketing manager Greg Kingston (pictured) said: "The tone of their findings is particularly damning and, while not much new has been revealed, the report consolidates previous comments and should leave SIPP operators and interested observers in no doubt that the FSA is ready to take firm action soon." The report found a lack of regulated expe...
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