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....

SIPPs: Exposing the myth of ‘SIPP approved’ investments

iStock_000016454287XSmallA recent exchange on Twitter between our Marketing Manager, Phillip Bray, and an unhappy SIPP investor led us to thinking about the world of unregulated investments and in particular the term, ‘SIPP approved’. Responding to one of our blogs, ‘7 lessons all investors can learn from the problems with Harlequin Property ’, the investor asked: “Perhaps you can explain, when something is SIPP approved, does that not mean due diligence and checks have been made?” This got us thinking, what does the term ‘SIPP ...

Harlequin Property update: Harlequin invite investors to “Open Days”

Update Harlequin 150pxAfter weeks of deafening silence, when many investors have complained about poor communication, unreturned phone calls and emails, as well as missing monthly interest payments, Harlequin Property has now invited their investors to attend a series of ‘Open Days’. Harlequin Property ‘Open Days’ In a letter apparently sent to investors and published on the online forum, Harlequin Investors Board, the beleaguered property group invite both “investors and agents” to an “Open Day”. The letter states: “We are dedicated to being ...

SIPPs: New capital adequacy rules to decimate the SIPP market?

iStock_000003051325XSmallThere is growing concern that continuous regulatory change, including the FSA’s recent proposals to increase the amount of capital SIPP (Self-Invested Personal Pension) providers must hold, will force large numbers out of business. Commenting in the latest Money Management SIPP survey, one leading SIPP provider has said that up to 80% of SIPP providers could disappear through a combination of mergers, takeovers or exists from the market. Speaking to FT Adviser, Chris Smeanton, Head of Product Development at James Hay, said: ...