Three things we learned this week

Investors prepare action against SIPP provider over UCIS A group of investors is preparing to pursue self-invested personal pension (SIPP) provider Stadia Trustees for hundreds of thousands of pounds via the Financial Ombudsman Service (FOS) for what it claims was its failure to carry out proper due diligence on an unregulated investment they put their pension money into. Stadia disputes the claim and argues it undertook due diligence into the scheme "at a far higher level than other SIPP providers". The six investors all invested through Stadia in Armadillo Energy, an oil explorati...