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A senior figure at a Sipp provider fears that a failure to clarify the new capital adequacy rules could lead to worried firms going too far in an attempt to meet requirements and therefore end up increasing costs for clients.
Influential Sipps figures, as well as financial advisers, have voiced support for a permitted list of Sipp investments in the face of growing Sipp regulation.
Barnett Waddingham's head of Sipp business development, Andy Leggett, says the FCA's latest guide for Sipps operators - FG13/8 - needs to be taken seriously by the advisers when it comes to due diligence.

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