Hartley Pensions declared failed by FSCS after investigation

The self-invested personal pension (SIPP) operator was yesterday (21 February) declared as failed by the FSCS. This decision by the lifeboat fund has come after it reversed its decision and extended support to Hartley SIPP clients facing administration charges. The FSCS previously said it would not pay the charges but decided on 29 January that it would pay the exit and administration charge (EAC) after it "obtained and considered further evidence". An FSCS spokesperson told Professional Adviser: "We've declared the firm in default so we're able to pay compensation for exit charges...