SIPP providers back FCA call for increased due diligence

Non-standard investments 'unnecessary' for most clients

Victoria McKeever
clock • 3 min read

Self-invested personal pension (SIPP) providers have endorsed the regulator's call to review due diligence practices as increasingly sophisticated scammers obscure 'non-standard investments' through the services of discretionary fund managers (DFMs).

In an alert, the Financial Conduct Authority (FCA) said scams had evolved from a "first generation" that offered unregulated assets for direct investment and a "second generation" that obscured the...

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