What does the Carey Pensions judgment mean for SIPPs?

To recap, the claim centres around Mr Adams' transfer of his existing FriendsLife personal pension, on an execution-only basis, into a Carey SIPP. Almost all of the £56,000 transfer value was used to purchase storage pod leases from Store First. Mr Adams had been introduced to the investment opportunity and to Carey by an unregulated Spanish-based introducer called CLP Brokers Sociedad Limitaa (CLP) who paid Mr Adams a £4,000 ‘cash back' inducement for entering into the investment. The investment didn't perform as Mr Adams expected. He received precious little in income and following ...