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The Association of Member-Directed Pension Schemes (AMPS), the body representing SIPP operators and SSAS practitioners, has voiced concerns about introducing a product levy to fund the FSCS and says the role of advice in causing later claims needs to be studied.

The FOS has ruled against an IFA firm over a Sipps case, concluding that ‘unsuitable advice’ was given.

Sipps professionals have expressed sadness and surprise, while also expressing fears for clients, after the FCA revealed four firms had failed over new capital adequacy rules.

The FCA has revealed that four Sipp operators have failed to meet the requirements of the new capital adequacy rules.

Pension professionals fear a one size fits all ‘auto-drawdown’ policy will hurt clients, and they have suggested advice vouchers should be re-examined.

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