FCA restricts Hartley Pensions from accepting new pension contributions

Operational and regulatory issues

Ayesha Venkataraman
clock • 2 min read

Self-invested personal pension (SIPP) operator, Hartley Pensions, asked the Financial Conduct Authority (FCA) to impose requirements preventing it from accepting ongoing contributions into the SIPPs/small self-administered schemes (SASS) administered by it, according to the regulator.

On July 11, the provider also asked the FCA to temporarily stop transfers or switches of SIPPs or SSASs until 22nd July at the earliest. These restrictions were imposed due to a "number of serious operational and regulatory issues," at the firm, according to the FCA.   As a result, the operator's clients will not be able to make any new or ongoing contributions into their SIPP or SSAS, or move their SIPP or SSAS to another provider, according to the regulator. It added that even if a request to move was received prior to these requirements being imposed but the SIPP or SSAS still had ...

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