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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