The Financial Conduct Authority (FCA) and the Association of Member-Directed Pension Schemes (AMPS) "are not on speaking terms" after last year's SIPP capital adequacy showdown - leaving providers with little or no support in the fight against pension liberation, according to Barnett Waddingham's Andy Leggett.
Leggett, head of SIPP business development at the provider, said the FCA was "in a strop" with AMPS following its lobbying effort to change the regulator's stance on capital adequacy requirements for SIPP providers. He added the regulator was "in a big huff" with the SIPP representative body and all lines of communications had broken down - meaning providers were missing out on essential support in the fight against pension liberation. Leggett also said the FCA "does not seem interested in pension liberation". He said: "Tackling these things is very difficult for SIPP operators - w...
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