Almost all self-invested personal pension (SIPP) providers are meeting the capital adequacy rules introduced 12 months ago, the Financial Conduct Authority (FCA) has said.
In response to a Freedom of Information request, the regulator said it is currently working with one unnamed firm who did not meet the new rules to "ensure they address" the new requirements. "As of 16 August 2017, one self-invested personal pension provider is not currently meeting the new capital adequacy rules introduced in September 2016. The FCA are working with the firm to ensure they address their capital adequacy requirements," it said. The new rules set the fixed minimum capital requirement for SIPP operators at £20,000 and set a capital surcharge for firms holding non-standa...
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