Sipp provider facing £600k Fos bill enters liquidation

The regulator also told the firm to refund £2,290 of Sipp fees and charges, and allow the client to transfer his Sipp fund free of charge after he has met his tax liability arising from taking more than 25 per cent tax free cash from his fund in 2018.

Back in 2016, offshore Sipp provider Brooklands Pensions entered into administration, prompting Heritage Pensions to buy out the firm.

The FCA has said the Financial Services Compensation Scheme is now open to customer claims against Heritage. The FSCS will now be investigating whether there are any claims that meet their qualifying conditions for compensation.