The Financial Conduct Authority (FCA) has written to Self-Invested Personal Pension (SIPP) providers to request information on the non-standard investments (NSI) they hold and any advisers recommending them.
In a note seen by Professional Adviser, the regulator said it is requesting the information because it wants to understand the level and type of NSIs held within SIPPs and discretionary fund managers in order to have a better overview of the market. It also said the information collected would be used to help inform any decisions on whether it decides to undertake supervision work in the area. It is also requesting details of: Financial advisers that advised their clients to invest in NSIs; Financial advisers that submitted business on an execution only or insistent cli...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
