Displaying items by tag: DAC Pensions

Friday, 17 March 2023 16:39

DAC Pensions declared in default as claims mount

SIPP provider DAC Pensions - which had more than 600 clients and nearly £27m in assets under administration - has been declared in default by the FSCS, opening the door to compensation claims.

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FCA pushes £26.7m SIPP provider into insolvency

The FCA said the small SIPP provider failed to carry out adequate due diligence checks on two EEQ introducer firms prior to accepting business from them.

The Financial Conduct Authority (FCA) has ordered that Cambridgeshire SIPP provider DAC Pensions Limited be placed into insolvency after the firm accepted business from unauthorised introducers without the proper vetting required by the FCA.

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