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Berkeley Burke
The Financial Services Compensation Scheme (FSCS) has received 733 claims against Berkeley Burke Sipp Administration Limited (BBSAL).

The UK’s Self Invested Personal Pensions (SIPP) industry has recently been shaken by the outcome of the Berkeley Burke case in relation to SIPP investments.

The Financial Services Compensation Scheme (FSCS) is now open to claims against Berkeley Burke SIPP Administration Limited (BBSAL).

SIPP provider Berkeley Burke has been ordered to pay almost £1m in costs to people left out of pocket after making high-risk unregulated investments which were accepted into the firm’s SIPPs. 
AMPS has urged its members to absorb lessons from the recent Berkeley Burke SIPP judicial review but says the case is “no game changer” for the majority of firms.
The FCA has written to SIPP firms to reiterate regulatory commitments following the judgement in the Berkeley Burke case.

A ruling against a Sipp operator which sparked fears of a precedent being set and a rise in claims will be reviewed by The Financial Ombudsman Service.

A Sipp operator has been told to compensate an investor after the Financial Ombudsman Service ruled it had failed to ensure that an investment was suitable.

Mattioli Woods has appointed John Kelly from Berkeley Burke as a senior consultant.

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