FCA again reminds SIPP providers of regulatory obligations

Follows Berkeley Burke appeal block

Hannah Godfrey
clock • 3 min read

The Financial Conduct Authority (FCA) has again reminded SIPP providers of their regulatory and financial commitments following the news that Berkeley Burke SIPP Administration's court appeal will not go ahead.

Nearly a year ago, FCA chief executive Andrew Bailey (pictured) wrote to CEOs of self-invested personal pension (SIPP) firms to remind them of their regulatory commitments following the outcome of the Berkeley Burke case, which it lost in October 2018. Following Friday's (4 October) news that Berkeley Burke SIPP Administration's administrators had blocked the firm's upcoming Court of Appeal hearing, the FCA restated its position. An update on the regulator's website said: "We reiterate that if the outcome of this case calls into question a SIPP operator's ability to meet financial com...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Retirement

'Urgent action' needed on Gen Z pension saving barriers: PPI report

'Urgent action' needed on Gen Z pension saving barriers: PPI report

Generation faces retirement challenges

Jasmine Urquhart
clock 26 February 2025 • 3 min read
Advisers concerned about regulatory scrutiny in decumulation phase

Advisers concerned about regulatory scrutiny in decumulation phase

Retirement planning ‘dominates’ client advice requests

Isabel Baxter
clock 27 November 2024 • 3 min read
Advisers call for new products to tackle retirement planning challenges

Advisers call for new products to tackle retirement planning challenges

Retirement products ‘don’t meet modern needs’

Isabel Baxter
clock 25 November 2024 • 3 min read