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

SIPP operator failed to carry out due diligence, FOS finds

Jen Frost
clock • 2 min read

The Financial Ombudsman Service (FOS) has told Pathlines Pensions UK to compensate a further trio of SIPP clients over pensions transfers into high-risk “esoteric” investments.

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Lords move to increase salary sacrifice cap to £5,000 'a pragmatic step'

Lords move to increase salary sacrifice cap to £5,000 'a pragmatic step'

Amendments will reduce or remove the impact of changes to salary sacrifice for most savers

Jonathan Stapleton
clock 12 March 2026 • 3 min read
Pensions minister Torsten Bell: Trust in pensions is 'too low'

Pensions minister Torsten Bell: Trust in pensions is 'too low'

Minister confirmed retirement CDC ‘will happen this year’

Holly Roach
clock 12 March 2026 • 1 min read
Pension schemes' in-house advisers raise conflict of interest concerns

Pension schemes' in-house advisers raise conflict of interest concerns

Growing number of master trusts and DB schemes offering restricted advice

Laura Purkess
clock 18 February 2026 • 3 min read