The Financial Conduct Authority has revealed it is 'mindful' of industry feedback on the treatment of commercial property as a non-standard asset for self-invested personal pensions (SIPP) capital adequacy in the forthcoming regulation.
Speaking at the Association of Member-Directed Pension Schemes (AMPS)'s annual conference Financial Conduct Authority director of long-term savings and pensions Nick Poyntz-Wright confirmed the regulator was taking into account industry views which argued commercial property should be treated as a standard asset. He said: "We are taking into account the feedback we received. There was a particular focus in the feedback regarding commercial property. I am not able to tell you about a final decision on that but we are mindful of the feedback we have had." In CP12/33, then regulator the ...
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