A NEW FSA regulation for SIPPs is likely to lead to further consolidation in the market, according to Premier Pension Services.
Nigel Manley, head of self-invested pensions at Premier Pension Services, which is a division of the Jardine Lloyd Thompson Employee Benefit Group, said FSA regulation was necessary because many client assets are tied up in unregulated vehicles. However, he expected the change, which will come into force next April, will have a significant impact on the SIPP and Small Self-Administered Scheme (SSAS) market. Manley said: “Already in the SSAS trustee market there are many companies who are not wishing to assume scheme administrator roles so they are hardly going to relish full regulat...
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