FSA to strengthen SIPP capital regime

The FSA today published a consultation paper outlining the changes.  The minimum needed to be raised because "experience has shown the cost of winding down an operator is unlikely to be less than this amount", it said. The FSA added the proposed regime reflected the growing popularity of SIPPs as a way to invest, the wide range of assets that can be placed within them. It added the move would help protect consumers should the operator have to be wound down. In addition to the minimum capital requirement, the FSA is proposing that an operator's total capital requirement should ta...