Harlequin

Laura Miller takes stock of a troubled SIPP market

Ames could face bankruptcy

Main distributors already triggered £60m payout

A Serious Fraud Office (SFO) investigation into embattled overseas property firm Harlequin has taken evidence from its former accountants, which Harlequin is currently suing.

A financial advice firm that tried to challenge the Financial Ombudsman Service (FOS) in the High Court over a ruling on pension advice has had its case thrown out.

The Pension Ombudsman Service (POS) has dismissed a complaint against self-invested personal pension (SIPP) provider Berkley Burke, ruling it was not the firm's responsibility to carry out detailed due diligence on unregulated investments.

Guardian SIPP is in talks to allow investors trapped in troubled investments to buy their way out of paying mounting administration fees, and to have direct access to any money clawed back from the firms deemed liable for their losses.

Troubled overseas property group Harlequin is encouraging investors to use compensation payouts to reinvest in its scheme - at the same time as it fights a settlement deal it reached with unhappy investors last year.

A Serious Fraud Office (SFO) investigation into criminal wrongdoing by multi-million pound overseas investment Harlequin is entering the "final stages", the SFO said, as it asks investors for the latest information on their dealings with the company....

The Financial Conduct Authority (FCA) has banned another former director of one of the main distributors of troubled investment Harlequin Property, fining him £165,900 for failings linked to pension advice.