PIMFA warns 'further clarity' needed in FCA's proposed SIPP changes

Set out in CP26/20, the FCA launched a SIPP market consultation in June aiming to increase consistency of standards.  The consultation paper, which closes today (24 August), proposed clear standards of due diligence across the SIPP market and proposed stronger requirements for the handling of pension scheme money and assets. PIMFA senior policy adviser Julia Sage-Bell explained that while the trade body "broadly support" the proposals, a number of requirements "need further clarity". "The FCA must set out clear expectations of firms and establish how proportionate these checks have...