The FCA has warned that some firms offering consumers 'free pension reviews' are using Sipps and SSAS to transfer people into high risk unregulated investments.
The FCA has issued a warning to firms advising on switches to Sipps after an assessment found "serious and ongoing failings".
The FCA has banned two partners at a Welsh firm of financial advisers for their role in a £112m Sipp-based investment strategy that saw nearly 2,000 of their customers advised to invest in high risk investments such as diamonds and overseas property via a Sipp.
A senior FCA figure has warned against predictions of doom about the annuities market following the radical pension reforms announced in the Budget.
With all the recent chatter about drawdown reform, no one spotted that the Government would advocate unrestricted access to pension pots for all.
The FCA has confirmed that the third thematic review into Sipp providers will be published in June.
The FCA has approved Broadstone's acquisition of the Blythwood Group.
Commentators, regulators and even the industry itself have all struggled to split the SIPP market into neatly labelled boxes to highlight the wide range of products under the SIPP moniker.
Retirement planning advisers have told how regulation is their overriding fear in the wake of RDR.
Nearly three quarters of those looking for an annuity lack the confidence to arrange one without the help of an adviser, research shows, as a major review of the sector moves into its next phase.
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