FOS favours Pathlines Pensions SIPP clients in first post-rebrand cases

The decisions mark the first upheld rulings since Pathlines Pensions, formerly London & Colonial, rebranded late last year following a split from STM Group. The ombudsman found that Pathlines Pensions failed to carry out appropriate due diligence on investments – ranging from carbon credits, to overseas property, to self-storage units – before allowing them to be held in its SIPPs. The FOS decision referenced the Adams v Options judgment, in which an appeal court confirmed in 2021 that SIPP provider Carey Pension (now Options) was liable to repay a member who was advised by an unregul...