Suffolk Life buys insolvent SIPP provider EPM

EPM, established in 2001, went into the special administration regime insolvency proceedings on 21 June this year. Suffolk Life, itself acquired by rival Curtis Banks Group in January, has bought EPM's book of business totalling 5,000 SIPPs with a value of about £630m. The deal comes as the deadline for SIPP provider's to comply with strict capital adequacy rules approaches. The rules, which could prompt more consolidation in the SIPP market, are due to come into force in September. Suffolk Life managing director Will Self said: "This acquisition, coming shortly after Suffolk Life ...