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: ...