FCA warns on SIPP provider failures after Berkeley Burke decision

Letter received today

Hannah Godfrey
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"We recognise that if a firm may not be able to meet its financial commitments, it may be in the interests of some of its customers for part or all of its business to be sold to another firm" - FCA's Andrew Bailey
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"We recognise that if a firm may not be able to meet its financial commitments, it may be in the interests of some of its customers for part or all of its business to be sold to another firm" - FCA's Andrew Bailey

The Financial Conduct Authority (FCA) has written to SIPP providers to remind them of their regulatory commitments following the outcome of the Berkeley Burke case.

A letter from FCA chief executive Andrew Bailey to self-invested personal pension providers (SIPP) seen by Professional Adviser asked firms to consider the "potential implications" of today's Berkeley...

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