Regulator sets out finalised guidance for SIPP providers

The guidance specifically covers systems and controls, client money, management information, conflicts of interest, due diligence and financial crime. The relationship with firms that advice and introduce prospective members is also covered. On financial crime, the FCA said: "To reduce the risks of financial crime, firms need to have appropriate risk management systems and controls in place to address the risk of financial crime and be able to demonstrate that a risk assessment is undertaken regularly." The updated guidance was promised in the 2012 SIPP operator thematic review, publi...