Ahead of the new Consumer Duty requirements, the FCA has warned SIPP operators to ensure standards of conduct are high amid concerns about problems in the sector.
Barnett Waddingham’s SIPP business board has appointed SIPP market expert Mark Smith as an independent non-executive director.
Fund manager Vanguard is to axe its low-cost Financial Planning arm which was launched in April 2021.
All FCA-regulated firms should, by now, have put in place their implementation plans for meeting the Consumer Duty requirements by 31 July 2023 (a later date applies for legacy products).
SIPP industry veteran John Moret has called on the Treasury to review and rewrite SIPP regulation, saying the current framework is ‘a mess and not fit for purpose’.