The use of a permitted investment list could stifle innovation in the SIPP and SSAS market according to Talbot & Muir.
While welcoming the suggestion of such a list the provider's head of technical support Claire Trott (pictured) said such a move would only work if all providers were consulted.
"I would be surprised if the FCA decided to go down the route of a permitted investment list, especially as this is likely to stifle innovation and preclude legitimate and well managed investment opportunities," she said. "But if this does prove to be the case then it is important that this is done in consultation with all providers to ensure it is not unduly restrictive.
"Providers need to be able to demonstrate that their systems and controls are adequate to filter out those investments that are considered ‘off piste'. We took the decision last year to create and operate our own permitted investment list, this provides clarity to the advisers that we work with and gives a clear and transparent view of what we will accept and what we don't."
The Talbot & Muir permitted investment list for SIPP and SSAS products includes assets such as intellectual property and unquoted shares as well as investment grade gold bullion and ETFs.
The issue of permitted investment lists has caused much debate within the SIPP industry.
Recently London & Colonial's head of business and product development Adam Wrench said HMRC should reinstate the use of such lists to protect consumers from further scandals.
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