The FCA has secured a bankruptcy order against father and son directors of a collapsed SIPP introducer who failed to pay back £10.7m in restitution to clients.

The FSCS has declared nine financial services firms - including failed SIPP provider Rowanmoor - in default during December and January, including several financial advisers.

SIPP and SSAS provider body the Association of Member-Directed Pension Schemes (AMPS) has called on the DWP to announce a timetable for decisions over the future of its general levy.

The Financial Services Compensation scheme has declared two financial advice firms as failed including a firm which provided advice on SIPPs.

The FCA has cancelled the permission of KBFS Financial Limited (FRN: 831504) to carry out regulated business following restrictions imposed in October over concerns about its failure to pay redress to former members of the British Steel Pension Scheme.

Liverpool wealth manager Blankstone Sington Ltd (FRN: 143694) has been declared as failed by the Financial Services Compensation Scheme.

The FSCS has declared a Portuguese financial firm involved in the UK SIPP market in breach of its regulatory permissions as failed.

Data and research provider Defaqto - which provides Engage Financial Planning software - has launched a pilot for new Consumer Duty Profiles for selected product providers in the personal pension, SIPP and adviser platform spaces.

SIPP and Financial Planning firm Mattioli Woods has reported pre-tax profits leapt 60% to £7.6m in the six months ended 30 November 2023.

The UK will have to increase the state pension age to 71 by 2050 to maintain the number of workers per retiree, according to a new report from the International Longevity Centre UK.