FSCS could levy SIPP providers over 'due diligence failings'

In its Plan and Budget for 2017/18, the lifeboat fund said its threat to levy SIPP providers stems from a number of claims it has received where it has found such failings.  The FSCS also pointed out the Financial Conduct Authority (FCA) has previously highlighted concerns where operators in the SIPP market have carried out business with non-authorised introducers. It said: "Although we have not made any allowances at this time, FSCS has received a number of claims against SIPP operators in relation to due diligence failings. "Should FSCS be satisfied that a legal liability arises ...