Sipp regulation is set to shake up the industry

While the introduction of Sipp regulation may improve sales information, access to redress and compensation, the legislative burdens will drive some providers out of this market

The dawn of the new era of regulation of self invested personal pensions (Sipps) is likely to mean a major shake up of the industry in the short-term but should ultimately enshrine greater protection for clients and better service levels. Although regulation will not start until April 6, many of those in the industry who deal with Sipps have already spent large amounts of time and money planning and preparing in order to provide a seamless transition to the new regime. I say many because progress so far has not exactly inspired confidence. Sipp companies have had since October to submit t...