FSCS to cover Hartley SIPP members' exit and admin charges

FSCS reverses decision and extends support to Hartley SIPP members

Sahar Nazir
clock • 1 min read

The Financial Services Compensation Scheme (FSCS) has reversed its decision and extended support to Hartley self-invested personal pension (SIPP) clients facing administration charges.

The SIPP operator, which also manages a small number of small self-administered schemes (SSAS), went into administration in August 2022 at the request of the Financial Conduct Authority and is under investigation by the FSCS. The FSCS previously said it would not pay the charges but decided yesterday (29 January) that it would pay the exit and administration charge (EAC) after it "obtained and considered further evidence". It previously said the charges were outside the scope of its rules. It said it would protect Hartley SIPP members by paying compensation for the EAC, following the ...

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