FSA issues advice warning over sipps

Just over a week before the FSA takes over the regulation of personal pensions, including sipps, the regulator is reminding advisers that from 6 April 2007 they must only use authorised sipp operators. It also points out they should ensure “that advice given to transfers into Sipps is suitable, reflects the customer's needs, priorities and circumstances, and is not influenced by commission payments”. In its March newsletter for financial advisers, the FSA says it is already monitoring advice on sipps and warns “if we see cause for concern in this area, we will consider carrying out focu...