Berkeley Burke has said the decision to place its SIPP arm into administration was "thrust upon the company" following the sudden costs ruling made in August.
Last week, on 18 September, the self-invested personal pension (SIPP) arm of Berkeley Burke fell into administration and was immediately sold to another provider in the form of Hartley SIPP. A notice from the Financial Conduct Authority (FCA) said the firm entered administration because it could no longer accord to defence redress claims made against it. The claims are linked to the acceptance of high-risk non-standard investments into its non-advised SIPPs between 2010 and 2012. Berkeley Burke has now said the decision to place it into administration was "thrust upon the company" fol...
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