The Financial Conduct Authority (FCA) is to investigate the self-invested personal pension (SIPP) industry in its third thematic review of the market.
The regulator also reiterated it would take enforcement action against providers "who do not have the interests of consumers at heart". A spokesman said the review, which echoes the ground covered by 2012's previous thematic review, would look at three areas: operators financial resources, quality of the business SIPP operators allow in their schemes, and operational procedures and controls. The FCA contacted SIPP providers by email yesterday. The spokesman said: "We were quite strong in the email we sent out. "We said that we have done a review already but we found that there c...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
