Self-invested personal pension (SIPP) providers have endorsed the regulator's call to review due diligence practices as increasingly sophisticated scammers obscure 'non-standard investments' through the services of discretionary fund managers (DFMs).
In an alert, the Financial Conduct Authority (FCA) said scams had evolved from a "first generation" that offered unregulated assets for direct investment and a "second generation" that obscured these assets...
What made financial headlines over the weekend?
Moves to overweight equities and fixed income
The Big Interview: Focus on ethical investment
View from the front row
'No control or oversight'