Moret: SIPPs are the FSA's 'new whipping boys'

Jenna Towler
clock

The Financial Services Authority's (FSA's) move on self-invested personal pension (SIPP) disclosure rules poses a major challenge to all providers and adds no value for consumers, John Moret has said.

Yesterday's CP12/29 consultation confirmed disclosure exemptions for SIPP providers would be scrapped from April next year. MoretoSIPPs principal John Moret said the FSA had made SIPPs and their operators its "new whipping boys". He said: "Coming hot on the results of their thematic review of SIPP operators which will already have set alarm bells ringing at many smaller SIPP operators CP12/29 could be the final nail in the coffin for many operators." Moret said while most of the document was concerned with projection rates - which are of little interest to SIPP investors - the disc...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Sipps: How clients can avoid common retirement planning mistakes

Sipps: How clients can avoid common retirement planning mistakes

'Retirement planning stands as a cornerstone of long-term financial well-being'

James Floyd
clock 28 April 2025 • 4 min read
Origo completes pensions dashboard connection

Origo completes pensions dashboard connection

Completed connection ahead of this week’s first deadline

Holly Roach
clock 28 April 2025 • 2 min read
HMRC repays £44m in overpaid pensions tax during Q1 2025

HMRC repays £44m in overpaid pensions tax during Q1 2025

More than £1.4bn in overpaid pensions tax recouped since 2015

Martin Richmond
clock 28 April 2025 • 3 min read