The FSA is cracking down on unsuitable investments in SIPPs, but SSAS could be the new target for unscrupulous salesmen.
In 2011 there was growing concern over the use of self-invested personal pensions (SIPPs) to push high risk investments onto unsuitable clients. The Financial Services Authority (FSA) has taken action. The future for SIPPs will be one where providers must take more responsibility for the investments it permits in its schemes, have greater capital adequacy, and provide better information to clients. It will become a costlier but safer business. But will this simply push the sale of high risk investments into small self-administered schemes (SSAS)? The crackdown The FSA has taken s...
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