John Moret has called on the Government and the Financial Services Authority (FSA) to take immediate action for the proper regulation of the Self-Invested Personal Pensions (SIPP) market before the arrival of A-Day on 6 April 2006.
Moret, director of sales and marketing at SIPP specialist Suffolk Life, highlights a recent survey on SIPP providers, finding half of the respondents are currently unregulated. Speaking this week at the Westminster & City conference, he says: “The survey responses suggest that the current regulatory framework for SIPPs is at best confusing and at worst a shambles.” Moret says the major interest being shown in SIPPs and the projected growth in this market means it is important to immediately put into place a regime that will provide the right level of protection for SIPP investors upon...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
