SIPPs: FSA to increase protection for SIPP investors

The FSA (Financial Services Authority) has today issued proposed new rules to increase protection for investors in the event of a SIPP provider failing. The FSA started to regulate SIPPs (Self Invested Personal Pensions) in 2007. Since then the SIPP market has grown significantly both in terms of the amount of money held in SIPPs and the range of investments held. The FSA has become concerned that some SIPP providers have insufficient financial resources to organise an orderly wind down of their business in the event of the provider collapsing, or deciding to exit the market....