The FCA is to undertake its third thematic review of the SIPP market in six years due to evidence of ‘significant consumer detriment'. Carmen Reichman gauges reaction to the FCA's broad-brush approach…
Evidence of "significant consumer detriment" in any facet of financial services is never a welcome soundbite. But is another full-market regulatory review (this will be the third since 2007) necessary in self-invested personal pensions (SIPPs)? The Financial Conduct Authority (FCA) certainly seems to think so. Blanket approach Some SIPP industry figures have questioned whether yet another full-blown market review, which will no doubt be costly, is essential to fix perceived failings. Industry veteran John Moret said the industry problems are not so widespread as to warrant a blan...
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