'Hundreds' of claims stuck with FOS as SIPP battle rumbles on

12 months since Carey Pensions case heard

Hannah Godfrey
clock • 1 min read

"Hundreds" of claims relating to SIPPs are on hold with the Financial Ombudsman Service (FOS), pending the outcome of the Carey Pensions case, a solicitor has said.

APJ solicitor Glyn Taylor said the slow litigation process surrounding the Adams vs Carey Pensions case - which was heard at the High Court in London last March - meant "hundreds" of cases were on hold with the FOS, pending the outcome. A year ago, almost to the day, self-invested personal pension (SIPP) provider Carey Pensions was accused of being "in bed with scammers" at the High Court.  Lorry driver Russell Adams alleged Carey Pensions mis-sold him a SIPP. He and his lawyers accused the SIPP firm of using a Spain-based unregulated introducer to facilitate investments in Store Firs...

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 Retirement

Advisers warn market volatility will threaten retirement plans

Advisers warn market volatility will threaten retirement plans

More than half expect clients to postpone or change plans

Isabel Baxter
clock 26 March 2024 • 2 min read
Perfect timing: How to advise clients on the right time to retire

Perfect timing: How to advise clients on the right time to retire

Striking a balance between health, wealth and personality

Richard Hulbert
clock 05 February 2024 • 4 min read
Baillie Gifford: Enjoying later life without an income from work

Baillie Gifford: Enjoying later life without an income from work

The latest from PA’ Digital Working Lunch webinar series

Professional Adviser
clock 12 December 2023 • 2 min read