SIPPs: FCA announce final rules – victory on commercial property, but higher fees for some SIPP investors?

FailedIt’s been nearly two years since the Financial Services Authority (FSA) issued a paper proposing new regulatory capital requirements for SIPP (Self-Invested Personal Pension) providers. Since then we’ve had a prolonged period of consultation, numerous delays, a change in regulator and much debate over how the proposals will affect both SIPP providers and members. However, the Financial Conduct Authority (FCA) has now released the final rules and confirmed they will come into effect from 1st September 2016....

Harlequin Property: Panorama pulls expose after bribery allegation

Panorama pulls expose after bribery allegationThe BBC has temporarily postponed an episode of Panorama amid allegations that a security consultant has been bribed for information. Since these allegations, the BBC has also suspended one of the shows’ producers. Bribery allegations The Panorama program was pulled from broadcast last Monday, having been described in the Radio Times as “an investigation into financial scandals that could wipe out people’s life savings”....

Investments: 7 lessons all investors can learn from the problems with Harlequin Property

The financial lessons we’ve learnt in 2012For those not in the know, Harlequin Property offer overseas property investments, in a series of developments, based mainly in the Caribbean and South America and promoted by a number of celebrity endorsements. All seemed well until recently, when a series of stories in the national media revealed that several of the developments had not been started and income payments to investors had stopped. Since then the Serious Fraud Office has revealed they ...

SIPPs: Concern mounts over Harlequin Property

Update Harlequin 150pxAmid mounting concern over Harlequin Property, the FSA (Financial Services Authority) has written to SIPP providers asking them to confirm the exposure to the scheme within their SIPPs (Self Invested Personal Pensions). As part of their “on-going supervisory work into financial advisers” the FSA has asked SIPP providers to confirm the extent of their exposure within five working days. A number of SIPP providers, including Suffolk Life, Liberty, Talbot & Muir and LV= were quick to take to the social networking site, ...