Sipps need FSA regulation, says Aifa

In response to HM Treasury’s proposed changes to the eligibility rules for establishing a pension scheme, Fay Goddard, deputy director general at Aifa, says FSA regulation of Sipps is needed to protect consumers, particularly as they can still hold unregulated investments such as commercial property and possibly unquoted securities. “By bringing Sipps under FSA regulation they will be clearer, safer and more transparent on, for example, charging structures,” claims Goddard. In addition, FSA regulation is needed to maintain consistent standards and fair competition, says Aifa. It adds:...