Again? Really? Andy Leggett looks at the findings of the third FCA thematic review of the SIPP business…
We have had a third thematic review of self-invested personal pensions (SIPPs) and what came up? Two subjects more familiar than the furniture: due diligence on investments and prudential requirements (read: capital adequacy). After all the warnings, the reflex is to groan and ask "Again? Really?" There is an absolutely key thing we don't know from the Dear CEO letter and annex: has the FCA simply uncovered more examples of past issues or do the findings represent ongoing failings since the not-long-passed second thematic review? The answer makes all the difference. If the findings...
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