SIPPs: Reaction to FSA capital adequacy proposals

Reaction to FSA capital adequacy proposalsThe FSA (Financial Services Authority) released proposals last week which, if implemented, could lead to bespoke SIPP (Self Invested Personal Pension) providers having to hold significantly higher reserves of capital. The FSA has decided that current rules do not provide adequate protection for customers should a SIPP provider fail.  Under the new rules, providers will have to set aside more financial reserves.  These reserves would be called upon to pay for the winding down, or transfer, of their SIPPs, in ...