SIPPs: SIPP providers who allow riskier investments forced to hold more capital?

The subject of capital adequacy for SIPP providers reared its head again yesterday, with the FSA (Financial Services Authority) saying that it may force SIPP providers, who allow riskier SIPP investments , to hold more capital than their rivals. Capital reserves SIPP providers are currently required to hold capital equal to six weeks overhead as demonstrated by the audited accounts. Need advice on your SIPP?...

FSA to review SIPP provider due diligence over UCIS concerns

The Financial Services Authority (FSA) is to conduct a review into the due diligence requirements of SIPP providers amid mounting concern over the sale of UCIS (Unregulated Collective Investment Schemes). Unregulated investments As the name suggests UCIS are investment schemes unregulated by the FSA, although Independent Financial Advisers, who may advise on UCIS investments and product providers, for example companies who run SIPPs which may accept UCIS investments, are regulated by the FSA. Over the past few months UCIS have come increasingly under the spotlight, both because of how they are marketed and the actual products themselves. There is mounting concern over the viability ...