Greyfriars’ SIPP book sold for £820k, newly-published documents have revealed.
Since 2015, the Insolvency Service has applied to the courts to wind-up 24 companies that have carried out a form of pension misuse.
The current level of funding and the financial structure of FOS will have to change, FCA chairman Charles Randell told the Treasure Committee today.
Thousands more pension savers are taking action over concerns they have been hit by a pension scam or are at risk - spurred by an FCA and TPR-backed campaign.
AMPS has urged its members to absorb lessons from the recent Berkeley Burke SIPP judicial review but says the case is “no game changer” for the majority of firms.
The FCA has written to SIPP firms to reiterate regulatory commitments following the judgement in the Berkeley Burke case.
FCA data showed an increase in the number of complaints about regulated firms, with more than four million complaints during the first half of 2018.
Discretionary fund manager (DFM) and Sipp provider Greyfriars Asset Management has slumped into administration.
The launch, by the FCA and The Pensions Regulator yesterday, of a joint regulatory strategy aimed at taking action to deliver better outcomes for pension consumers has been backed by the profession.
There has been a flurry of corporate results in the last few months from SIPP providers that have shown an increase in revenue due to the increase in SIPPs being set up due to the large number of DB transfers to SIPPs.
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