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There is no hiding place for businesses failing to meet the new capital adequacy rules, a Sipp firm managing director says.

Curtis Banks Group achieved an operating profit of £1.631million and administered 67,161 Sipps in the six months to the end of June.

The new capital adequacy rules took effect this week but Sipp experts say there are still grey areas that could be problematic.

Sipps specialist Claire Trott is leaving Talbot and Muir, the company revealed this morning.

The latest FOS complaints data has shown Sipps had a higher complaint uphold rate than any other financial product.

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