Government brings Sipps into the regulatory fold

sipp regulation

The new rules on Sipps affect advisers as well as providers so they will need to ensure that they have the appropriate authorisation to sell them

On 6 April this year self invested personal pensions (Sipps), for the first time, came within the scope of the Financial Services Authority's (FSA) rules. Strictly speaking, it is the establishment, operation and winding up of a personal pension scheme along with a new specified investment type - rights under a personal pension scheme - that will become regulated. What the Government is effectively doing, by bringing Sipps into the fold, is aligning the regulation of all types of personal pension. Stakeholder pensions, another type of personal pension scheme, are already regulated, as are ...